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Menifee School Bldg Sells for $7.5M

River Springs Charter School Exercises Option with Church Fund
February 1, 2018
River Springs Charter School, Inc. purchased the specialty building at 26800 Newport Rd. in Menifee, CA for $7.5 million, or about $168 per square foot, from the Lutheran Church Extension Fund - Missouri Synod.

The single-story building, located on a 4.9-acre parcel, totals 44,667 square feet. It was built in 1993 and renovated in 2007.

The charter school was an existing tenant in the building, and exercised an option to purchase. The sale price was established on Aug. 1, 2017 when the lease was signed.

Chris Bury of Foundry Commercial represented the seller.

Please reference CoStar COMPS #4098357 for more information on this transaction.
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