Endeavor paid $4.15 million in late January for the land and building at 10275 Savannah Park Dr. near Lake Nona, a 1.44-acre property that features a 16,232-square-foot Cranium Academy preschool built in 2015.
Endeavor had bought the Cranium Academy brand a few years ago, but at the time one franchisee remained with a school in Lake Nona.
"It was already part of our family and we were supporting the school, so this transaction enables us to bring it into our family more formally," CEO Ricardo Campo told GrowthSpotter. "We're excited about Lake Nona and growth prospects for the school."
The company now has seven school locations in Florida, of which two are in Greater Orlando.
The seller in Lake Nona was an affiliate of John and Charlotte Jebailey, which was their first venture into the private education sector.
John Jebailey is a veteran developer and construction executive, formerly a partner in Marjon Construction with his brother from 1996 through late 2013.
After divesting ownership of the Cranium Academy of East Orlando in January, Jebailey has jumped back in to development and commercial construction, forming Jebailey and Co. LLC.
Jebailey will now partner with Endeavor to lead its site selection for expansion in Central Florida. The company currently has a site under contract in the Avalon Park area, he said, and is eyeing growing submarkets like Lake Mary, Clermont and Apopka.
Strong population growth and positive income demographics in submarkets such as Lake Nona will drive site selection, Jebailey said.
"I plan on keeping a good working relationship with Endeavor and the preschool industry because I see a need for more preschools in Central Florida," he said. "There is a need in certain growth areas for quality education, especially at the preschool level and with STEM-based schools. Parents really cherish a preschool option that offers more than just the daycare mentality."
Two-acre sites are the company's sweet spot for development, with the potential to squeeze on to 1.6 acres with off-site stormwater retention, he added.
Jebailey's company would ultimately own the new properties in its partnership with Endeavor and lease the site back for a school to be built.
Acquisitions will be funded initially with private capital, but lenders would be engaged if Jebailey begins tackling multiple land assets, he said.
Endeavor turned and resold the Lake Nona land on Feb. 15 to an affiliated entity for $5.22 million, managed by Andrew Skurowitz of Fort Lauderdale-based Early Learning Centers of Broward. Endeavor still owns and manges the school operations.