OFFERING SUMMARY:

PRICE: $3,003,000
CAP RATE: 6.00%
BUILDING SIZE: 10,000 Sq Ft
NOI: $180,200
YEAR BUILT: 1996
LOT SIZE: +/- 3.04 Acres

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HIGHLIGHTS:

  • Corporate Guaranty from Cadence Education
    Cadence Education is one of the premier early childhood educators in the United States, operating over 200 private preschools and elementary schools as members of the Cadence Education Family of Schools across the country. With over 20 years in business, we have developed an unparalleled expertise in preparing students to thrive in the next step of their childhood.
  • 12-Plus Years Remaining on Original 15-Year Lease
    Cadence signed a new 15-year lease at the subject property back in February of 2020. The lease has minimal landlord responsibilities and bodes 6.00% increases in rent every three years. In addition to the 15-year base lease term, the tenant has two, five-year options to renew with the same rent increase structure every three years.
  • Philadelphia Metropolitan Statistical Area
    Philadelphia offers its residents an attractive package of economic, educational, cultural and recreational advantages. Its transformation from a manufacturing-based economy to one more reliant on information will continue to provide greater economic opportunities. The metro encompasses 11 counties across Pennsylvania, New Jersey, Delaware and Maryland.
  • 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.

EXCLUSIVELY LISTED BY:

DOMINIC SULO
Senior Vice President Investments
Senior Director, Net Lease Properties Division
(630) 570-2171
dominic.sulo@marcusmillichap.com

ERIC LUHRSEN
Senior Associate
(630) 570-2219
eric.luhrsen@marcusmillichap.com

NEW JERSEY BOR
John Horowitz
Lic #2192359