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EAST WEST Commercial Real Estate is pleased to announce its facilitation of a 10-year commercial lease between Cornerstone Christian School (formerly of Roseville, CA) and Liberty Towers Church of the Nazarene, located at 5132 Elkhorn Blvd in the unincorporated area of Sacramento County.
Commencing Fall 2012, Liberty Towers will once again host a pre-school and 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 Ave in Roseville, Cornerstone Christian School has been operating continuously in a facility owned by The Rock of Roseville for the past 20 years. Headmaster Richard Batista has expressed appreciation to Pastor Francis Anfuso for allowing the school’s use of the Rock’s former church property all these years. But “with current enrollment, there is simply no more room to grow”, lamented Batista. “We are 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 community of North Sacramento”, said Brian Jacks, Regional Vice President of EAST WEST Commercial Real Estate, 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 just 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. In 2005, Liberty Towers sold the land to a multifamily developer for more than $3.5 million 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 Real Estate represented Liberty Towers for the successful re-purchase of this land. Escrow closed this week with a purchase price of only $675,000, less than 20% of Liberty Tower’s selling price seven years ago. Guy Spitzer of Cornish & Carey Commercial 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, which hosted nearly 350 participants earler 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 Real Estate is certainly pleased to partner with Liberty Towers to bring revitalization to this North Sacramento neighborhood. The future is most definitely bright for this community.
About Brian Jacks
Brian Jacks is a Sacramento commercial real estate broker (since 1996) specializing in commercial leasing and investment sale transactions for retail, shopping centers, multifamily, apartments, senior housing, office, industrial, mixed-use, and special purpose properties. Having spent over 20 years with Wells Fargo, he personally facilitated the underwriting, approval and funding of approximately 250 loans totaling over $1 billion in loan proceeds.
Jacks is a Regional Vice President for EAST WEST Commercial Real Estate, 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 | Brian.Jacks@EastWestCommercial.com
http://www.Sacramento-Commercial-RealEstate.com
http://www.Twitter.com/SacCommercialRE
http://www.Facebook.com/SacCommercialRE
http://www.GPlus.to/SacCommercialRE
http://www.LinkedIn.com/In/Bjacks
Brian Jacks, East West Commercial Real Estate’s Vice President and Regional Director, was recently featured in the Sacramento Business Journal for his expertise in the Sacramento commercial real estate industry. Staff writer, Sandord Nax, of the Sacramento Business Journal stated in his article Friday, June 15th, 2012, “Several Capital-area churches are taking advantage of low interest rates and prices to buy property and provide permanent homes for their active congregations”. Click here to read more.
Brian Jacks, our Vice President and Regional Director at East West Commercial Real Estate, was recently featured in the 
Sacramento Business Journal on Friday, June 15th 2012, where he comments on the multi family real estate industry. Mr. Jacks further explains how apartment complexes are drawing investors from the stock market and other real estate sectors. Click Here for complete article.
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East West Commercial Real Estate is proud to announce its facilitation of a new 3-year office / special purpose l
ease for Veritas Church in Roseville, CA, effective July 1, 2012. Veritas has been led by Senior Pastor Erik Meyers for the past four years, since inception in 2008. While Veritas has been blessed with the ability to share space in other non-profit facilities, it has been difficult, but a necessary reality to relocate basically once every year since it all began. Veritas’ most recent facility was subleased from Cornerstone Christian School at 202 Bonita Street in Roseville, CA. At a Veritas Church membership meeting held on the evening of June 3, 2012, a collective sigh of relief was heard as Pastor Erik discussed the new lease opportunity with his congregation… finally, a place of their own.
East West Commercial Real Estate is pleased to announce Augie Chavez as its new Inland Empire, California commercial real estate associate. Specializing in the sale and lease of industrial space for lease and industrial buildings for sale in the Inland Empire and being a licensed salesperson with the State of California, Augie will be a tremendous asset to the East West Commercial Real Estate team.
With over twenty years of experience in real estate, logistics, and construction, Augie brings a diverse and unique set of talents and skills to the commercial real estate arena which only serves to benefit clients in regards to how their assets are marketed and serviced.
As a contractor, he marketed to and worked with developers, architects, and general contractors on commercial, entry-level and semi-custom tract homes, multi-residential, and large scale development projects such as Butterfield Ranch in Chino Hills, CA. His impressive real estate experience includes working with distressed properties and the sales and marketing of several multi-million dollar communities, some of which included an affordable housing component with diverse financing options.
Augie also has a proven track record in the logistics field. As a warehouse/operations manager for a large importer, he turned around a faltering distribution system consisting of multiple warehouses shipping to thousands of dealers throughout the US. With a BA in Transportation and Logistics Management from American Public/Military University, his expertise extends beyond his hands-on experience with the unique ability to look at how logistics influences all functions of an organization and understands how strategic placement of points of distribution impacts the flow and efficiency of their supply chain network. Augie offers this level of service and experience to those seeking industrial property for lease in the inland empire as well as industrial property for sale in the inland empire.
Augie Chavez is an Inland Empire, California commercial real estate associate and salesperson specializing in lease and investment transactions for industrial properties. Mr. Chavez oversees industrial properties for sale and industrial space for lease in Chino, Ontario, San Bernardino, and Riverside for East West Commercial Real Estate.
Augie Chavez is part of the firm East West Commercial Real Estate, a full service commercial real estate services company with offices throughout Arizona, California, Nevada, and New Mexico including, Phoenix, Tucson, Los Angeles, San Francisco, San Diego, San Jose, Orange County, Inland Empire (Riverside and San Bernardino), San Jose, Sacramento, Oakland, Walnut Creek, Las Vegas, Reno, and Albuquerque. East West Commercial Real Estate provides brokerage and asset management services for retail, shopping centers, office, industrial, apartments, medical office, self-storage, senior housing, and hospitality. For more information, contact Augie Chavez at (909) 732-9423 or Augie.Chavez@EastWestCommercial.com or http://www.eastwestcommercial.com.
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