CAP RATE: 6.00%
TOTAL BUILDING SIZE: 24,000 Sq Ft
YEAR BUILT | RENOVATED: 2006 | 2018
LOT SIZE: +/- 1.24 Acres
- 13+ Years Remaining on a 18-Year Lease
O2B Kids! signed a new 18-year lease at the subject property in 2018. The lease has zero landlord responsibilities and bodes 1.25% annual increases in rent. In addition to the 18-year base lease term, the tenant has three, five-year option to renew with the same rent increase structure annually.
- O2B Kids! (35+ Locations) – Top 20 Corporate Operator
O2B Kids! is one of the Top 20 Corporate Child Care Companies in the country. O2B Kids! is a place that opens minds, improves self-confidence, develops social skills, and strengthens bodies. O2B Kids helps children discover hidden talents and promotes a passion for discovery. O2B Kids! currently operates 35+ locations across two states.
- Located in Jacksonville, Florida MSA
The Jacksonville metro is in the northeastern corner of Florida, just south of the Georgia border. It is composed of five counties: Duval, Clay, St. Johns, Nassau and Baker, with the Atlantic Ocean providing its eastern border. Jacksonville’s access to road, rail, sea and air transportation has made it an intermodal hub for the Southeast. In past decades, the metro’s population growth has outpaced that of the nation; a trend that is projected to continue over the next five years.
- 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 in-crease in the number of women employment.
EXCLUSIVELY LISTED BY:
Senior Vice President Investments
Senior Director, Net Lease Properties Division