IE Business Daily Business news for the Inland Empire.
Progressive Real Estate Partners in Rancho Cucamonga has negotiated the sale of six preschools in Arizona.
The Sunrise Preschools – two in Mesa and one each in Phoenix, Tempe, Chandler and Glendale – changed hands for a combined $16.9 million, according to a statement on Progressive’s website.
Average price per property was $2.8 million.
Each school was sold in a separate transaction during the past several months. Progressive and Real Living S.J. Fowler Real Estate in Mesa, AZ represented the seller, BORGH Holdings.
Information regarding the buyer, or buyers, was not disclosed.
Sunrise Preschools operates 29 schools in the greater Phoenix metro. All are co-owned by Child Development Schools, which has over 250 locations in 11 states.
Child Development Schools is the sixth-largest operator of day care centers in the United States, serving more than 43,000 children annually, according to the statement.
