Marcus & Millichap negotiated the sale of KinderCare, a 10,782-square-foot net-leased learning and childcare center in Germantown, Wisconsin. The asset sold for $3.825 million.
Dominic Sulo, senior vice president and an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a Michigan-based limited liability company. The buyer, a California-based limited liability company, was secured and represented by Sean Delaney, senior vice president, and Jeffrey Herrmann, senior associate, also investment specialists in Marcus & Millichap’s Chicago Oak Brook office.
Todd Lindblom, Wisconsin Broker of Record, assisted in closing this transaction.
Financing was obtained on behalf of the buyer by Dean Giannakopoulos, senior vice president, and Frank Montalto, first vice president, with Marcus & Millichap Capital Corporation.
KinderCare is located at N112 W17060 Mequon Road in Germantown, less than two miles from Interstate 41. The property was sold in an off-market transaction to a multifamily 1031-exchange buyer.
Under corporate guarantor KinderCare Education, the center has just under 11 years remaining on its long-term net lease.