Grow Public Schools' lease for a Bakersfield, California, office building last year signaled continued growth for the public charter organization and represented a vote of confidence for the building's new landlord.
An individual investor purchased the 15,080-square-foot building in the Seven Oaks Business Park in December 2022 when it was vacant. Grow Public Schools moved into the entirety of the building less than a year later, with the property meeting the organization's needs for a larger space to accommodate future expansion.
Its growth comes as the charter school sector experiences more demand when compared to more traditional schools, according to reports.
The deal garnered a 2024 CoStar Impact Award for lease of the year for Bakersfield, as selected by an independent panel of local industry professionals.
About the Deal: Grow Public Schools signed a 10-year lease to relocate from its California Avenue-area offices to 4800 Corporate Court. The school's lease commenced in September.
What the Judges Said: "This represents a positive investment in the education of the area population and further demonstrates the growth of the commercial market in the southwest," said Bruce Davis, executive vice president of Bolthouse Properties.
They Made It Happen: Matthew Starr, Martin Starr and Scott Underhill of ASU Commercial brokered the deal.