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| For Immediate Release |
June 13, 2012
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Greetings!
 EAST WEST Commercial Real Estate is pleased to share an exciting community development that is uniting a Northeast Sacramento neighborhood in a big way. This dramatic story involves the revitalization of a large church campus on the brink of closing its doors only a year ago. Its K-8 Christian school had already been closed three years prior, due to the failing economy, and the church was not far behind. Read more to learn how a Roseville based K-12 Christian school has now taken up residency onsite and how the church actually benefited in a huge way from the real estate crash. Don't miss the video (scroll below).
Your Local Sacramento Commercial Real Estate Broker, Brian Jacks, Regional Vice President EAST WEST Commercial Real EstatePhone (916) 837-3456 | Fax (916) 313-3778 |
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EAST WEST Commercial Real Estate
Arranges Long-Term Commercial Lease and
Land Acquisition for Local Sacramento
Church and Pre-K-12 Christian School
For Immediate Release - June13, 2012
Commencing Fall 2012, Liberty Towers will once again host a pre-school and
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Liberty Towers Church
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K-12 educational facility dedicated to teaching children in a Christian environment. It was only three years ago that Liberty Towers shuttered operations for its school, succumbing to the pressures of a failing economy. According to Terry Schneider, recently installed Lead Pastor of Liberty Towers, "It was very sad for our long standing church members to witness the school close after having successfully operated for over three decades."
Just a few miles east (along Interstate 80) at 143 Clinton Avenue in Roseville,
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Cornerstone Christian School
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Cornerstone Christian School has been operating continuously in a facility owned by
The Rock of Roseville for the past 20 years. Headmaster Richard Batista expressed appreciation to Pastor Francis Anfuso for allowing the school's use of the Rock's former church property all these years. "Unfortunately, with current enrollment, there is simply no more room to grow," lamented Batista. "We were having to turn students away due to lack of space."
"A new chapter is now being written for both of these great institutions, one that involves a mutual and beneficial co-existence in the Foothill Farms
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Community of North Sacramento", said Brian Jacks, Regional Vice President of EAST WEST Commercial, who facilitated the coming together of both parties. "It's really a win-win for everybody." Cornerstone now has full access to an extensive facility with spacious classrooms, multiple playgrounds, renovated auditorium and large gymnasium, while Liberty Towers enjoys a tenant that fulfills one of its core missions to provide a Christian education for the community.
During a recent walk through of the campus, Cornerstone parents were impressed at the magnitude of facilities being made available to their school. Many asked about the vacant land comprising over 6 acres located immediately adjacent to the church. This property was formerly owned by Liberty Towers and improved with baseball and soccer fields for its once thriving school.
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Liberty Towers Church & School Campus
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In 2005, Liberty Towers sold the land to a multifamily developer for $3,565,000 at the peak of the market and was able to pay off a significant mortgage for its gymnasium, creating a debt free campus. Following a foreclosure and subsequent legal proceedings, the land recently became available through a court ordered sale. EAST WEST Commercial represented Liberty Towers for the successful re-purchase of this land. Escrow closed this week and the property changed hands for only $675,000, less than 20% of Liberty Tower's selling price of seven years ago. Guy Spitzer of Cornish & Carey Commercial Newmark Knight Frank represented the court receiver.
Liberty Towers once again controls its destiny for the full block bordered by Elkhorn, Andrea, and Hillsdale Boulevards and is excited about future ministry opportunities. "Our goal is to welcome the community with open arms onto our campus", said Schneider, who operates a boys / girls basketball and cheerleading league  called Upward Sports, which hosted nearly 350 participants earlier this year. "We are currently partnering with various local organizations and sports leagues to propose re-development of the land out back for expansion of our community sports program and hope to add Upward Football this Fall."
EAST WEST Commercial is pleased to partner with Liberty Towers to bring revitalization to this Northeast Sacramento neighborhood. The future is most definitely bright for this community.
Watch the video!
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About Brian Jacks
Brian Jacks is a licensed real estate broker with the State of California (since 1996). He currently specializes in investment sales for the greater Sacramento Area multifamily / apartment market, but also has significant experience with all commercial real estate income property types including retail, office, industrial, self-storage, mixed-use, special purpose, etc. Having spent over 20 years with Wells Fargo, he personally facilitated the approval and funding of approximately 250 loans totaling over $1 billion in loan proceeds.
Jacks is a Regional Vice President for EAST WEST Commercial, a full service commercial real estate brokerage advisor based in Orange County. In addition to serving the Sacramento marketplace, he is also responsible for the company's current expansion into the San Francisco Bay Area. For more information, contact Brian Jacks at (916) 837-3456 or Brian.Jacks@EastWestCommercial.com.
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Recent Sacramento Area Transactions
Office / Special Purpose
Veritas Church - 5,500 square feet / 3-year lease
(1052 Melody Lane, Roseville, CA) - June 2012
Unimproved Land (Residential)
Liberty Towers Church - 6.28 acres / Purchase
(Andrea Blvd & Hillsdale Blvd, Sacramento, CA) - June 2012
Industrial / Warehouse
Garden Supply Company - 7,200 square feet / 3-year lease
(3920 W. Capitol Ave, West Sacramento, CA) - May 2012
Educational Facility / Special Purpose
Cornerstone Christian School / 10-year lease
(5132 Elkhorn Blvd, Sacramento, CA) - February 2012
Apartments / Multifamily
6420 46th Street - 14 units / Purchase
South Sacramento, CA - November 2011
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About EAST WEST Commercial
East West Commercial is a full service commercial real estate brokerage advisor specializing in investment sales, commercial leasing and finance for retail, office, industrial, multifamily, senior housing, self-storage, mixed-use, and special purpose properties throughout California. The firm is headquartered in Orange County, CA. Brokerage offices include Sacramento, San Francisco, Walnut Creek, San Jose, Oakland, Los Angeles, San Diego, Orange County, Riverside, San Bernardino, and Phoenix.
Other services include bank REOs, 1031 exchanges, nationwide commercial Business Opinions of Value (BOV's) and Broker Price Opinions (BPO's), mortgage brokerage, lender services, and asset management.
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