Serve as preferred developer for 15 facilities – from site selection to opening
NEED
Nobel Learning Communities is a private, pre- plus K-12-school with facilities in 19 states. The West Chester, PA-company needed to enter the Chicago market and develop a cluster of preschools to support an elementary school.
Q2 PROCESS
Working as preferred developer, the team determined the Naperville market had the best demographics. As a full-service developer, our work included site selection, due diligence, entitlements, design, construction, tenant build out, and post opening support for15 Chesterbrook Academy pre-school centers. We completed a cluster of pre-schools, including a pre-school and elementary school campus. We also completed pre-schools in other Chicago submarkets. The development process and working relationship spanned 10 years.
RESULTS
As Nobel changed senior management and strategies, we were able to continue to meet the company’s needs for high quality locations at the lowest possible cost. All of our work was open book and transparent to Nobel and we continue to advise on lease renewals and strategy. In addition, we developed an innovative ownership relationship with the company. Nobel created a relationship with REIT(s) and asked us to presell the facilities at certain cost to the new landlord. In so doing, Nobel was able to reduce annual rent and develop a long-term relationship with investment landlords.
