OFFERING SUMMARY:

PRICE: $1,988,000
CAP RATE: 6.75%
BUILDING SIZE: 6,032 Sq Ft
NOI: $134,160
YEAR BUILT: 2005
LOT SIZE: +/- 1.46 Acres

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HIGHLIGHTS:

  • Corporate Guarantee from Childtime Childcare, Incorporated
    Childtime Childcare is a subsidiary of Learning Care Group Incorporated, the second largest for-profit childcare operator in the United States. Learning Care Group Operates over 900 facilities under several different brands including La Petite Academy, Childtime, Tutor Time, The Children’s Courtyard, Montessori Unlimited, Everbrook Academy, Creative Kids, Pathways, U-Gro, and Young School.
  • New 10-Year Lease Extension
    Childtime recently extended their lease for an additional 10 years, showing a long-term commitment to this location. The lease calls for an increase in year five of 10% offering an important hedge against inflation and built-in increase to NOI. This location has operated as an early learning center since 2002 and is a respected and known entity for families in the city of Midlothian.
  • Affluent Richmond Virginia Suburb
    Richmond is the capital city of Virginia, roughly 110 miles south of Washington, D.C. The metro consists of 102 counties and four cities. Richmond’s strategic location on the James River and a well-developed intermodal transportation network provide for a growing logistics and distribution sector. Amazon recently announced plans for a fulfillment center along Interstate 95 south of Richmond. The market’s educated workforce is also drawing more companies to the region and already Richmond houses more Fortune 500 firms than many larger metros.
  • 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

VIRGINIA BOR
Brian Hosey
Lic #0225247494