San Francisco—LePort Schools (LePort), an Orange County, Calif.-based private school group, signed a 15-year lease for the entirety of 50 Fell Street in downtown San Francisco, marking its first location in Northern California. LePort will debut its authentic Montessori program for children ages 3 months to 6 years in September 2014, after a multi-million-dollar renovation to the property.
Built in 1931, the 23,604-square-foot, four-story building between Van Ness Avenue and Market Street, features classic architectural design and a private outdoor courtyard.
“The ability to convert the outdoor courtyard to playground space and immediate access to the Van Ness Muni station make 50 Fell an ideal site for LePort’s first school in San Francisco,” said Nick Carey, a managing director with Newmark Grubb Knight Frank (NGKF) in Newport Beach, Calif., who represented LePort with local partner Shannon Dolan, a vice president at Cornish & Carey Commercial Newmark Knight Frank in San Francisco. “The influx of residents in the immediate area and location within a burgeoning tech center were also significant factors in site selection.”
The property is located near 4,500 new residential units, including those at 100 Van Ness, a 600,000-square-foot office to residential conversion directly adjacent to 50 Fell Street. Twitter, Uber, Yammer, One Kings Lane, Square, Call Socket and Zendesk are just a few of the employers in the immediate area.
“San Francisco parents are very excited about this new Montessori school,” said Ray Girn, CEO of LePort Schools. “Dozens of parents have been attending our monthly preschool info sessions, and enrollment for fall is strong: our Spanish immersion toddler program is already filled, and only a few spots remain open in the English toddler and Spanish-immersion preschool program. It’s been great to see that parents in San Francisco value what we offer: a high-quality Montessori experience, with highly trained teachers, in a beautiful, carefully-prepared environment.”
LePort (www.LePortSchools.com) currently serves more than 900 children on nine campuses across the state. Mr. Carey is scouting other possible locations in similar densely populated areas.
Michael Monroe, a senior vice president at Colliers International, represented the landlord, Casa Terranova LLC, in lease negotiations.
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