117,000-SQUARE-FOOT PROPERTY FETCHES $5.8 MILLION IN FLORIDA

JACKSONVILLE, FLA. — Fort Lauderdale, Fla.-based Red Apple Development, the development arm of Charter Schools USA, has purchased a 117,000-square-foot facility at 7510 Baymeadows Way in Jacksonville. Situated on an 18.8-acre campus, the property sold for $5.8 million. The buyer plans to renovate the property and open Duval Charter School at Bay Meadows, which will serve students kindergarten through 12th grade. K Dan Shalloway and Jim Morgan of Sperry Van Ness represented the buyer; Bruce Jackson of CB Richard Ellis represented the seller, Ashland Oil, in the transaction.