OAKLAND, Ca., January 29, 2018 – Cushman & Wakefield has represented The Roman Catholic Welfare Corporation/Diocese of Oakland (as landlord) in the long-term lease transaction to Golestan Center for Language Immersion and Cultural Education, popularly known as “Golestan Kids”.
The property is owned by the Roman Catholic Diocese of Oakland and is known as the St. Jerome Campus. It is located at 320 San Carlos Avenue in El Cerrito, CA. Founded in 1941, the campus contains the school, convent, church, hall and rectory. In June 2017 the parish announced the closure of the school.
Cushman & Wakefield’s Palo Alto-based Executive Managing Director, David Klein, Esq. SIOR LEED AP, was engaged by the Diocese to arrange a lease with a replacement tenant for the school property.
Founded in 2006 in Berkeley, CA, Golestan Center for Language Immersion and Cultural Education, needed additional space to house its expanding program and enrollment. Golestan has leased the 1.492 acre school site with its 11,700 sf school building in as-is condition on a long-term lease. Golestan will make use of and upgrade all of the school’s improvements including classrooms and play yards without an alteration allowance from the Diocese.
Mr. Klein completed the lease transaction on a pro-bono basis. “While we had proposals for alternative uses, the Diocese wanted to continue the education tradition and mission at St. Jerome which would be the least disruptive use to continuing parish activities. I wanted to make my own contribution to the education mission by providing commercial real estate services at no cost to the parties, Mr. Klein said.
The Roman Catholic Welfare Corporation/Diocese of Oakland’s Chief Financial Officer, Paul Bongiovanni, commended Mr. Klein on his involvement. “I’d like to extend a big thank you to David for getting us into the end zone! His invaluable gifts of time and talent to get this lease done are deeply appreciated,” Mr. Bongiovanni said.
Executive Director of the Golestan School, Mr. Yalda Modabber, said the School is excited about its expansion and upcoming move to the St. Jerome site in El Cerrito.
“After months of back and forth between the Diocese and Golestan, Cushman & Wakefield was able to finalize the agreement between both parties in a quick and timely manner. The new site provides a blank canvas for Golestan to convert to an idyllic learning environment that will serve as a model to change the way educators perceive what schools should look like. We will convert the conventional school grounds to an idyllic natural oasis. The school itself will be multilingual, with secondary language tracks in Hebrew, Arabic, and Persian, to start,” Mr. Modabber said.
Golestan is scheduled to open for classes on the St. Jerome campus in the fall of 2018.