Marcus & Millichap brokered the sale of two Childtime daycare center properties, one in Avon, Indiana, and a second in Canton, Michigan.
The Avon location sold for $2.64 million and the Childtime located in Canton sold for $2.6 million.
Both properties had corporate guarantee from Learning Care Group (1,000-plus units nationwide). Both also had a seven-year lease extension. Additionally, they were both in affluent areas with household incomes of $124,000 (Avon) and $195,000 (Canton).
Dominic Sulo, senior vice president, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listings to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Adrian Mendoza, first vice president, along with Austin Weisenbeck and Sean R. Sharko, senior managing directors, both investment specialists in Marcus & Millichap’s Chicago Oak Brook office.
Josh Caruana, broker of record of Indiana, and Steve Chaben, broker of record of Michigan assisted in closing these transactions.
Locations of the properties are at 1169 N Avon Ave in Avon and 49810 Cherry Hill Road in Canton.
