Net Lease Kindercare


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Net Lease Kindercare property for sale

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Net Lease Kindercare

  1. 1. NET LEASED INVESTMENT OFFERING KinderCare 790 North Lake StreetGrayslake, IL 60030 (Chicago MSA)
  2. 2. TABLE OF CONTENTS NET LEASED INVESTMENT OFFERING TABLE OF CONTENTS1) Confidentiality & Disclaimer2) Executive Summary3) Property Overview4) Aerial5) Site Plan6) Map7) Tenant Profile8) Demographic Comparison Report9) Location Overview10) Contact Information
  3. 3. CONFIDENTIALITY & DISCLAIMER NET LEASED INVESTMENT OFFERING CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMERThe information contained in the following Offering Memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from The Boulder Group and should not be made available toany other person or entity without the written consent of The Boulder Group. This Offering Memorandum has beenprepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property. The information contained herein is not a substitute for a thorough duediligence investigation. The Boulder Group has not made any investigation, and makes no warranty orrepresentation. The information contained in this Offering Memorandum has been obtained from sources webelieve to be reliable; however, The Boulder Group has not verified, and will not verify, any of the informationcontained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes nowarranty or representation whatsoever regarding the accuracy or completeness of the information provided. Allpotential buyers must take appropriate measures to verify all of the information set forth herein.
  4. 4. EXECUTIVE SUMMARY NET LEASED INVESTMENT OFFERING EXECUTIVE SUMMARYThe Boulder Group is pleased to exclusively market for sale a single tenant net leased KinderCare property located in theChicago MSA. This is a proven location for KinderCare since 1999 as evidenced by the recent renewal and extension of theexisting lease. Additionally, the parking lot was recently resealed in July 2012. The lease is corporately guaranteed byKinderCare, the largest for-profit childcare provider in the country with 1,900 locations nationwide. The 6,952 square footproperty was built in 1999 and has seven years of lease term remaining.The property is located along Washington Street, a primary east-west thoroughfare, which experiences traffic volumes inexcess of 16,000 vehicles per day. The property is positioned on a hard corner of a signalized intersection creatingconstant traffic flow at the site. Additionally, the property is benefited by its location in a dense residential area nearmultiple large subdivisions and apartment communities. There are approximately 150,000 people living within five milesof the property with above average household incomes in excess of $100,000 annually.The original fifteen year lease term began in 1999 and KinderCare recently exercised their first option, which renewed thelease term through April 2019. The lease features escalating rents in each of the three remaining option periods.KinderCare is a privately owned company with over 1,900 locations across the United States. KinderCare is the largest forprofit childcare provider in the county.INVESTMENT HIGHLIGHTS• Located within the Chicago MSA• Tenant recently exercised their first option to extend the lease term• Approximately 150,000 people living within five miles of the property• Average household income in excess of $100,000 within five miles of the property• Parking lot was recently resealed in July 2012• KinderCare is the largest for-profit child care provider in the country• Located within one-half mile of a Metra Transportation Station• Corporately guaranteed lease by KinderCare
  5. 5. PROPERTY OVERVIEW NET LEASED INVESTMENT OFFERING PROPERTY OVERVIEWPrice: $1,490,000Cap Rate: 9.07%Net Operating Income: $135,152*Renewal Options: Three 5-Year with rental escalations (Lesser of CPI or 10%)Lease Commencement Date: June 7, 1999Lease Expiration Date: April 30, 2019Year Built: 1999Tenant: KinderCareLease Type: NNRentable Square Feet: 6,952Land Size: 1.05 acres*Seller to escrow three months of rent at closing due to rental abatements in May 2013,May 2014 and June 2014.
  9. 9. TENANT PROFILE NET LEASED INVESTMENT OFFERING TENANT PROFILEKinderCare Learning Center was founded in 1969 and is an American operator of for-profit child care facilities. Thecompany provides educational programs for children ages six weeks to twelve years old. Some 200,000 children areenrolled in more than 1,900 early childhood education community centers, 656 before-and-after school programs,and 123 employer-sponsored centers in 39 states. KinderCare was acquired in 2005 by the Knowledge LearningCorporation, a privately held education service firm. The deal was valued at over $1 billion and made KnowledgeLearning Center the nation’s largest private child care and education provider. KinderCare is accredited by TheNational Association for the Education of Young Children (NAEYC).Website: www.kindercare.comNumber of Locations: 1,900Employees: 33,000
  10. 10. DEMOGRAPHIC COMPARISON REPORT NET LEASED INVESTMENT OFFERING DEMOGRAPHIC COMPARISON REPORT 1-mi. 3-mi 5-miPopulationTotal Population 12,818 67,140 149,057Total Households 4,286 21,726 49,201IncomeMedian Household Income $99,143 $80,775 $83,373Average Household Income $113,289 $93,099 $100,249
  11. 11. LOCATION OVERVIEW NET LEASED INVESTMENT OFFERING LOCATION OVERVIEW Grayslake is located within Lake County, Illinois. At the time of the 2010 U.S. Census Grayslake had a population of 20,957. Lake County is located in the northeastern corner of Illinois and according to the 2010 census; Lake County had a population of 703,462. Grayslake is located midway between the Chicago and Milwaukee metropolitan areas yslake and approximately 40 minutes from OHare International Airport. Additionally, there are multiple Metra commuter rail lines which provide daily commuter service to Union Station in downtown Chicago. Grayslake is home to the College of Lake County, the University n Center of Lake County and the Lake County Fairgrounds. The Grayslake community is served by three excellent public school districts, parochial and private schools, and a charter school dedicated to providing quality education to Grayslake community. arterThe Grayslake community is within a fifteen mile radius of four excellent hospitals which offer skilled specialists andthe best technology available. Condell Medical Center, Lake Forest Hospital, St. Therese Hospital, Victory MemorialHospital and several of their satellite facilities in the Grayslake area provide care for the Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. Th Chicago MSA is the The third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties. The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 compa companies, including Boeing, McDonalds, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and OHare International Airport is the second busiest airport in the world in terms of traffic movement. ofThe metro is also a major financial center in North America, and is home to the largest futures exchange in theUnited States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks thecompetitiveness of financial centers based on people, business environment, market access, infrastructure andgeneral
  12. 12. CONTACT INFORMATION NET LEASED INVESTMENT OFFERING CONTACT INFORMATION 666 Dundee Road Suite 1801 Northbrook, IL 60062Randy Blankstein Jimmy GoodmanPresident Partner847.562.0003