IDAHO FALLS, Idaho (KIFI) - TOK Commercial has announced the closing of a transaction for the sale of the former Sears retail anchor space in the Grand Teton Mall. It will become the new Alturas Preparatory Academy, a secondary school planned to open in fall 2021.
The 70,000 square foot space was purchased by Building Hope, a nonprofit organization that assists charter schools in the financing, procurement and renovation of educational facilities.
According to Brian Wilson and Brent Wilson of TOK Commercial, which assisted in the selection and negotiation of the purchase, Building Hope plans extensive renovations that will feature 30 classrooms, common areas, and flexible, naturally-lit collaborative spaces.
“It was such an honor to work with Building Hope as they bring additional educational opportunities to our community through an innovative repositioning of this high profile real estate asset,” said Brian Wilson, lead agent on the transaction.
Brookfield Properties manages the 630,321 square foot Grand Teton Mall.
TOK Commercial, with offices in Idaho Falls, Boise and Twin Falls, is Idaho’s largest full service commercial real estate company, offering Brokerage and Property Management services.