New 20-Year Lease with 2.00% Annual Increases in Rent
– Primrose is one year into a new 20-year lease, offering long-term cash flow through September 2043 with three, five-year extension options immediately following the Base Term.
– Landlord obligations limited to foundation and structural elements only with Tenant responsible for all else including maintenance, repair and replacement of the roof.
– 2.00% annual rent increases provide contractual rent growth, offering average yield of over 8.11% during the Base Lease Term.
Premier Brand in the Early Childhood Education Space
– Primrose Schools is a leader in early childhood education with 500+ schools in 34 states.
– Routinely rated as the #1 childcare franchise nationally and surpassed $1 billion in systemwide sales for the first time in 2022.
– Since 2021, 104 new franchise agreements have been awarded, 41 new schools have opened, 17 schools are currently under construction and there are more than 100 projects currently in the pipeline.
Only 5-Miles from the Avalon Development (Premier Shopping and Entertainment District)
– In the heart of Alpharetta, located about five miles from Primrose School, this sustainably designed, 86-acre development with more than 570,000 square feet of retail, a 12 screen all-premium theater, a full-service hotel, Class A office, single-family residences and luxury rental homes.
– Avalon infuses resort-level hospitality throughout a walkable, seamlessly connected community of shopping, dining, entertainment, living and working.
Alpharetta is the #1 Place to Live in Georgia
– 40 minutes north of Atlanta, Alpharetta has experienced booming development in recent years between mixed-use development Avalon and the transformation of its downtown now known as Alpharetta City Center.
– Over the past decades, some of the largest and most innovative companies on the planet have chosen to call Alpharetta their home.
– 65% of Alpharetta’s residents have a bachelor’s degree or higher, which is more than double the national average.
– Alpharetta ranks 3rd nationally for percent daytime population increase (for cities greater than 50,000 people) and boasts a daytime population of over 122,000.
– With close to 3,000 workers per square mile, worker density in Alpharetta is greater than in Charlotte, Dallas, Austin or Phoenix, and based on having a labor draw area of 1.7 million potential workers, we are sure you will find the right talent for your business needs.
