The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant KinderCare property located at 1553 Arcadian Lane in De Pere, WI for $1,350,000.
The KinderCare property is situated between Arcadian Lane and Heritage Road. Heritage Road is a main thoroughfare in the area. The property benefits from its location that is surrounded by single family homes and several elementary schools. KinderCare has successfully operated at this location since 1999 and recently elected to execute an early lease extension. There are over nine years remaining on the KinderCare lease.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction; a Midwest based real estate fund. The purchaser was a family office from the West Coast.
KinderCare has over nine years remaining on their absolute net lease that expires July 31, 2024. The lease features a 5% rental escalation in the primary term. KinderCare is the largest for-profit child care provider in the country and operates over 1,600 locations.
“This property garnered significant investor demand as there were numerous offers due to the strong brand recognition of the tenant” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This property was particularly attractive due to KinderCare’s long operating history at this location and recent lease extension.”
