PROJECTS

Fairfield Suisun USD Land Exchange



OWNERs

Fairfield Suisun USD
City of Fairfield

SIZE:

Green Valley Site 7.6 Acres

Laurel Creek Site 8 Acres

REAL ESTATE ADVISOR:

Terra Realty Advisors, Inc.

YEAR:

2013

FINANCING:

Exchange & Cash

EXCHANGE VALUE:

$2,000,000

COMMENTS:

Terra Realty Advisors, Inc. structured a three party exchange on behalf of our client: the Fairfield Suisun USD, with the City of Fairfield and Solano Transportation Authority (STA), Caltrans and PG&E. Utilizing a surplus, closed school site (Green Valley), the District exchanged this property for approximately 8 acres of land surrounding their existing Laurel Creek Elementary School. This acquisition/expansion, along with a Joint Use agreement with the City on the surrounding community park, increased the size of this site to potentially convert the school to a middle school or K-8 configuration. The City simultaneously sold the Green Valley site to STA/Caltrans and PG&E for the reconfiguration of a major interstate freeway and expansion of natural gas lines serving the region. The City’s intent is to take the proceeds received from STA, and acquire additional park land for a rapidly growing segment of the community. All parties benefited.