The 75,000-square-foot building that housed Sanford-Brown Institute in Orlando is under contract for about $7.95 million.
The property was put under contract by a South Florida charter school developer, said Shannon Gustafson, who is with KW Commercial, which represented the seller.
Gustafson declined to name the seller. Career Education, a for-profit postsecondary higher education provider with campus-based and online programs, based in Schaumburg, Ill., lists Sanford-Brown as one of its holdings on its website. A representative for Career Education did not return a call seeking comment.
The property under contract, at 5959 Lake Ellenor Dr., had been on the market since February, and now the prospective owner is conducting due diligence, Gustafson said. Lake Ellenor Drive falls between County Road 525A, or West Oakridge Road, and Rio Grande Avenue. It is just west of the southern part of the Orange Blossom Trail.
The Orlando institute is vacant, likely one of the Sanford-Brown holdings that Career Education shut earlier this decade, after considering enrollment levels and financial prospects, and also as part of a reorganization.
Career Education said in May of 2014, according to news reports, it would "teach-out" many campuses; no longer accept applications and cease operations after current students graduated. The Sanford-Brown College, at 6039 S. Rio Grande Ave. in Orlando, has remained open. Enrollment is about 150, a representative for the college said.