Locally based Literacy First Charter Schools has acquired a 7.15-acre land parcel in El Cajon for $4.85 million, with plans to develop a new campus, according to CoStar Group and public data.

The seller of the property, at 1530 Jamacha Road, was an affiliate of Maryland-based Mobilex USA. The raw land site is near the intersection of Jamacha Road and East Chase Avenue.

The buyer was represented by Kerry Schimpf and Cameron Czubernat of brokerage firm Commercial Properties Group, and the seller was represented by Peter Wright of QualityFirst Commercial.

According to its website, Literacy First Charter Schools serves children in kindergarten through eighth grade and has a total of four current locations in El Cajon and Lemon Grove.