Press Releases
Marcus & Millichap Arranges Sale and Financing of The Goddard School Childcare Facility in Knoxville, Tennessee
July 13, 2026
KNOXVILLE, Tenn., July 13, 2026 – 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 The Goddard School in Knoxville, Tennessee, for $4,929,000. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $2,875,000 in acquisition financing.
“This transaction highlights the strength of Marcus & Millichap’s collaborative platform and our ability to connect specialized expertise across asset classes,” said Dominic Sulo, senior managing director investments. “By leveraging our self-storage and net-lease experience, we helped the buyer seamlessly transition into a passive investment through a 1031 exchange while maximizing tax efficiency. The property is well-positioned for long-term cash flow, and investor demand for assets in Tennessee remains strong due to the state’s favorable tax environment and continued population growth.”
Sulo, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, in association with Jody McKibben, Marcus & Millichap’s Tennessee broker of record, had the exclusive listing to market the property on behalf of the seller, a Tennessee-based private equity company. Sean Delaney and Jeffrey Herrmann, also in the firm's Chicago Oak Brook office, procured the buyer, a private Indiana-based 1031 exchange buyer.
Dean Giannakopoulos, senior managing director in Marcus & Millichap’s Chicago office, secured the financing with a regional lender on behalf of the client. The loan features a 5-year term, with a 5.95% interest rate and 30-year amortization period, and no prepayment penalty.
The property is situated on 2.14 acres at 10720 Virginia Pine Way. Built in 2007, the 11,159-square-foot asset is occupied under a new 20-year triple-net lease with 2% annual rent increases and maintains enrollment exceeding 96%. The location benefits from strong demographics, with more than $86 million spent annually on education and daycare within a five-mile radius, and is operated under The Goddard School brand, which has more than 600 locations across 38 states.
“This transaction highlights the strength of Marcus & Millichap’s collaborative platform and our ability to connect specialized expertise across asset classes,” said Dominic Sulo, senior managing director investments. “By leveraging our self-storage and net-lease experience, we helped the buyer seamlessly transition into a passive investment through a 1031 exchange while maximizing tax efficiency. The property is well-positioned for long-term cash flow, and investor demand for assets in Tennessee remains strong due to the state’s favorable tax environment and continued population growth.”
Sulo, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, in association with Jody McKibben, Marcus & Millichap’s Tennessee broker of record, had the exclusive listing to market the property on behalf of the seller, a Tennessee-based private equity company. Sean Delaney and Jeffrey Herrmann, also in the firm's Chicago Oak Brook office, procured the buyer, a private Indiana-based 1031 exchange buyer.
Dean Giannakopoulos, senior managing director in Marcus & Millichap’s Chicago office, secured the financing with a regional lender on behalf of the client. The loan features a 5-year term, with a 5.95% interest rate and 30-year amortization period, and no prepayment penalty.
The property is situated on 2.14 acres at 10720 Virginia Pine Way. Built in 2007, the 11,159-square-foot asset is occupied under a new 20-year triple-net lease with 2% annual rent increases and maintains enrollment exceeding 96%. The location benefits from strong demographics, with more than $86 million spent annually on education and daycare within a five-mile radius, and is operated under The Goddard School brand, which has more than 600 locations across 38 states.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
