New 15-Year Lease with Limited Landlord Responsibility
– 3% Rent increases each year including the option periods.
– The tenant has two five-year options to renew at the expiration of the 15-year initial term.
– Landlord responsible for replacement of HVAC & roof/structure.
Long Term Tenancy At Location – In Operation Since 2012
– Original operator sold operations at the end of 2023.
– New operator is a local multi-unit operator.
The Goddard School – 600+ Locations In 38 States
– The Goddard School brand has been in operation for 30+ years.
– 2024 Entrepreneur Franchise 500 ranks Goddard #68 for its franchise rankings.
– Goddard serves children as young as 6 weeks old to 6 years old.
Demand For Daycare Remains Extremely Strong
– The U.S. childcare market size was valued at USD 60.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.18% from 2023 to 2030.
– The key factor driving the growth is the rising demand for early daycare & education services with more parents returning to working in offices, the rising number of single & working mothers,
advancements in learning technologies for children, and the accessibility of government funding.
– The expenditure on daycare in the U.S. is very high. As per the cost of care survey facilitated by the U.S. Department of Health and Human Services, the expenditure on these services reached
up to 7% of the household income in 2021.
– Families in the U.S. are willing to spend more on childcare services, indicating the high service demand in the U.S.
Internet Resistant Tenant
– Childcare remains a necessity for parents who can’t work from home.
– Early Education centers remain at the forefront of children’s social skills development.
New York Remains A Top 5 State Within The U.S.
– New York is the 4th most populated state in the country.
– Wappingers Falls is 78.4 miles north of New York City, the most populous city in The United States.
– As of Q3 2023 New York State’s GDP was 2.19 Trillion.
