Press Releases
Marcus & Millichap Arranges $3.3M Sale of Net-Leased Childcare Facility in Phoenix
April 09, 2025
PHOENIX, April 9, 2025 – 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 a net-leased childcare facility occupied by Busy Bees in Phoenix for $3.3 million.
“This was one of five properties we had listed for the client, and three others are already under contract in under two and a half months,” said Spencer Berkley. “These assets are more challenging to sell than traditional net-leased properties, which makes the quick momentum especially rewarding. We sourced the buyer through our internal database, helped complete their full 1031 exchange, and secured a corporate guarantee on behalf of the seller—all contributing to a smooth, successful transaction.”
Berkley, Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an Arizona limited liability company.
The 10,039-square-foot property is located at 4041 E. Cactus Road, a high-visibility corridor with exposure to more than 58,000 vehicles per day. It is leased to BrightPath Kids, part of Busy Bees, one of North America’s largest childcare providers. Busy Bees operates 990 centers globally, including 119 in the United States, and is backed by the Ontario Teachers’ Pension Plan. This location marks the company’s ninth acquisition in the Phoenix market as part of its ongoing U.S. expansion.
“This was one of five properties we had listed for the client, and three others are already under contract in under two and a half months,” said Spencer Berkley. “These assets are more challenging to sell than traditional net-leased properties, which makes the quick momentum especially rewarding. We sourced the buyer through our internal database, helped complete their full 1031 exchange, and secured a corporate guarantee on behalf of the seller—all contributing to a smooth, successful transaction.”
Berkley, Mark Ruble, Chris Lind and Zack House, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an Arizona limited liability company.
The 10,039-square-foot property is located at 4041 E. Cactus Road, a high-visibility corridor with exposure to more than 58,000 vehicles per day. It is leased to BrightPath Kids, part of Busy Bees, one of North America’s largest childcare providers. Busy Bees operates 990 centers globally, including 119 in the United States, and is backed by the Ontario Teachers’ Pension Plan. This location marks the company’s ninth acquisition in the Phoenix market as part of its ongoing U.S. expansion.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
