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Marcus & Millichap Arranges the Sale of a Net-Leased Childcare Property in Virginia Beach, Virginia

October 08, 2021

Virginia Beach, Virginia, October 8, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Childtime Learning Center, a 52,272-square-foot, net-leased childcare property located in Virginia Beach, Virginia, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,586,000.

Dominic Sulo, senior vice president, and Eric B. Luhrsen, senior associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a North Carolina-based limited liability company. The buyer, a New York-based limited liability company, was secured and represented by Dean Zang, executive managing director; Christopher Burnham, first vice president; and Connor Galvin, associate; investment specialists in Marcus & Millichap’s Baltimore, Washington, D.C. office. Brian Hosey, Virginia Broker of Record, assisted in closing this transaction.

Childtime Learning Center is located at 1841 London Bridge Road in Virginia Beach, Virginia. The center is a subsidiary of Learning Care Group, the second-largest childcare operator in the U.S. with over 900 locations nationwide, and recently signed a 10-year lease extension to remain at the location they until 2031.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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