The lease terms are very favorable to the landlord with zero landlord responsibilities and 10 percent increases every five years. There are currently 20 years remaining on the lease with two, five-year options. Sales Info: ■ Cap rate: 5.5% ■ NOI: $239,280 Location Description: The subject property is 9,970 square feet, was built in 1998, and is located about one mile from Route 100, the major east-west highway connecting US Route 29 in Ellicott City and MD 177 in Pasadena. The surrounding area is highly conducive to childcare centers and includes elementary schools, parks, dance/karate centers and abundant residential housing. The property is ideally located off the Meadowridge exit from Route 100, across the street from a corporate park with several large employers including Sun Microsystems. The city of Elkridge encompasses approximately 8 square miles in Howard County in Maryland and has strong median household income of $106,007 with a median resident age of 32 years which is five years/13 percent less than the state of Maryland’s median resident age of 37. Highlights: ■ Rare and Unique Opportunity to Acquire a Portfolio of Six Childcare Centers in Five States - Properties may also be Acquired Individually ■ Each Property is Subject to its own Absolute-Net Lease - Zero Landlord ResponsibilitiesPortfolio Average Lease Term Remaining is in Excess of 10 Years ■ All Leases have Corporate Guarantee of Knowledge Universe Education, LLC- Largest For-Profit Provider of Early Childhood Education Serving 198 Thousand Children per Year - $1.5 Billion in Annual Revenue from Operations from Renowned Brands Including KinderCare, Knowledge Beginnings, CCLC and Champions ■ Well-Positioned Portfolio - Three of the Six Properties are Located in the Top 50 MSAs and Five of the Six are Located in the Top 100 MSAs « show less
The lease terms are very favorable to the landlord with zero landlord responsibilities and 10 percent increases every five years. There are currently... show more »
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