Ironline Partners, a real estate investment, development and management company made the offers on all three properties: Miller Valley School, Dexter School and the PUSD administration offices on Granite Street.
According to Donald Teel, from Commercial Properties of Northern Arizona (CPNA), the company chosen to represent PUSD, the offers for the properties all met the appraised value. That dollar amount was not announced publicly, since the negotiations are still in process.
Bob Karber, a founding partner and CEO of Ironline Partners explained to the Board that he has owned a home in Prescott since 1999. They have already been active in development in the community. He said that they built a small home development off Gurley Street called Brighton Hills. “We’ve been in Prescott a long time, probably not as long as most of you, but we have come to know and love the town.”
Some of their other projects include:
Current development of a significant retail project in Flagstaff
Owned 400K sf of office space in Phoenix
Purchased the former Jack in the Box on Gurley Street here in Prescott
“We take a little bit of a different approach when we get involved in real estate projects. We’re both born and raised in Phoenix, and we consider Arizona our home. We don’t do anything outside of the state of Arizona. We try to take what we think is maybe a longer term, maybe and a little bit more intelligent approach, of what it is we want to do, and how it is we want to do it. I think that means for us is that we choose to develop properties that are significant to us. They mean something to us, they’re not just ‘this is a deal’ because it’s a deal.”
After listening to the presentations, the Board went into Executive Session to discuss the offers.
When they returned, they directed staff to negotiate certain not-yet-defined issues, and said they would consider the offers after those negotiations were complete.
You can watch the Board meeting here: