14080 Northdale Boulevard is aretail property for lease in Rogers, MN.
Marcus & Millichap is pleased to present a single tenant, absolute-net leased KinderCare Learning Center located in Rogers, Minnesota.
The subject property is 9,500 square feet, was built in 2007 and is less than 200 feet west of State Route 101. The surrounding area is highly conducive to childcare centers and includes elementary schools, parks, dance/karate centers and abundant residential housing. There is extensive national retail in close proximity including Kohl’s, Walgreens, Dollar Tree, UPS, GNC, and Anytime Fitness.
The city of Rogers encompasses eight square miles in Hennepin County, Minnesota and is a
northwest suburb of the Minneapolis-Saint Paul MSA. Interstate 94 goes directly through Rogers from the southeast through the northwest. Between the 2000 and 2010 census, the population of Rogers grew by nearly 140 percent, an annualized growth rate in excess of nine percent. Rogers enjoys strong median household income in excess of $96,000.
KinderCare has exercised their first five-year option, bringing the term to 11 years; showing their dedication to the site. There are three five-year options left to a very favorable lease that requires zero landlord responsibilities and CPI increases every five years, not to exceed seven percent. Next Rent Bump Date: January 1, 2018*. *Projected NOI: $226,332.
The property is operated by Portland, Oregon based KinderCare Education, the nation’s largest for-profit provider of early childhood education. The company serves 198 thousand children from six weeks to 12 years of age in 39 states and the District of Columbia through approximately 1,900 locations including community-based centers, school-partnership sites and employer-partnership centers operating under brands including KinderCare, Knowledge Beginnings, CCLC and Champions.
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