FOR IMMEDIATE RELEASE: February 15, 2023
Quattro Development converts brewery to a school – sells site for $7.7 million
The 1.23 acre site with an 7,679 sf building sold for $7,715,356 equating to a 6.68% cap rate
Oak Brook, IL: Quattro Development announced today the recent sale of a commercial development in Purcellville, VA. The 1.23 acre property is located at 130 E Main Street. The entire 7,679 square foot building is leased to Guidepost Montessori, the leading network of schools dedicated to Montessori education.
The Quattro Development project involved the renovation of a brewery to a Guidepost Montessori school. Construction began during Q3 2022 with an expected tenant opening in Q2 2023.
The redeveloped site sold for $7,715,356, equating to a 6.68% cap rate. Chris Urban of NNN Pro Group was the listing agent on the sale.
According to Quattro Development’s Rob Walters, “Guidepost Montessori has become one of the earliest childhood education providers in and around the nation’s capital. They have had strong enrollment growth and continue to provide a service that is in high demand.” Area retail includes Harris Teeter, Giant Food, Starbucks, Chipotle, and Chick Fil A.
The project is Quattro Development’s fifth Guidepost Montessori in the DC metro area. Previous projects include Guidepost Montessori locations in Montclair, VA; Waldorf, MD; Rockville, MD; and Bethesda, MD.
About Quattro Development: Quattro Development is a commercial properties developer based in Oak Brook, IL. Founded in 2006 by Michael Liyeos and Robert Walters, Quattro Development actively builds nationwide for retail, medical, restaurant, education, and service tenants. With a precision focus on finding the “Main & Main” location for every project and a dedication to client satisfaction, Quattro Development leads the industry as a premiere preferred developer. For more information, visit QuattroDevelopment.com.
Director of Strategic Projects