CAP RATE: 6.00%
BUILDING SIZE: 8,487 Sq Ft
YEAR BUILT | RENOVATED: 1996 | 2019
LOT SIZE: +/- 1.42 Acres
- Big Blue Marble Academy (48+ Locations) – Top 15 Corporate Operator
Big Blue Marble Academy is one of the Top 15 Corporate Child Care Companies in the country. The School focuses on global education, language immersion, and character development for school-aged children. Big Blue Marble Academy operates 48+ locations across eight states.
- 11+ Years Remaining on a Corporate Absolute Net Lease
Big Blue Marble Academy signed a new 15-year lease at the subject property back in 2019. In addition to the 15-year base lease term, the tenant has three, five-year options to renew. The lease is absolute net, with zero landlord responsibilities and calls for 7.00% increases in rent every three years.
- Located in Charlotte, NC – Premier Growth Market in the Southeastern U.S.
Charlotte is one of the 25 largest cities in the U.S. and the largest city in North Carolina. 800,000 live and work in the Charlotte community and the city provides services to much of this population. Charlotte’s exceptional market access has resulted in its emergence as a distribution and transportation center. During the next five years, the pace of population growth in Charlotte will double that of the U.S. A large portion of the gain will be due to in-migration.
- Demand for Child Care Remains Extremely Strong
The early education and daycare segment dominated the U.S. child care market and accounted for the largest revenue share in 2019. This is owing to an increasing number of daycare and early education centers in the country. The demand for early education is growing rapidly as around 1.4 million and 3.7 million students were enrolled in prekindergarten and kindergarten respectively in 2019. The key factors driving the U.S. child care market growth include increasing government funding for childcare, rising demand for daycare centers; and an increase in the number of women employment.