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Child Care

The Learning Experience

1 FOSTER PRIVATE LN, West Chester, OH 45069

Listing Price: $5,705,000

Cap Rate
6.50%
Tenant Name
The Learning Experience
Years Remaining On Lease
16.2
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Absolute Net
Rent Per Square Feet
$37.08

Investment Overview

Marcus & Millichap is pleased to present, The Learning Experience, located in West Chester, Ohio. The subject property is a brand-new build-to-suit development with 2022 construction. The subject property measures 10,000 square-feet and is situated on 0.902 acres. As a catalyst to this top-tier development, The Learning Experience (TLE), signed a rare, landlord favorable, 16-year lease with 12% rent bumps every 5-years. TLE is responsible for all operating expenses which includes Tax, CAM and Insurance Expenses, as well as additional admin fees associates with the greater Oaks at Wetherington development. This TLE location will be the first site in the Cincinnati MSA, and will also include upgraded Brick, Stone & Wood construction. As part of the lease, TLE agreed to a modified guaranty structure, which specifies an above average burnoff of $800,000 over 8-years, opposed to the typical $500,000 over 5-years, which shows an overall bullish view of the site and area. Ownership benefits from a favorable & rare lease structure, brand-new construction, long-term lease, and true irreplaceable real estate. The subject property is located in Liberty Township and is part of the Liberty Center & Oaks at Wetherington Development. Liberty Center is a Class-A lifestyle center built in 2015 which spans 64-acres and includes over 1.3 million square feet of retail, office dining, entertainment and hotel options. The Oaks at Wetherington is a sister development of Liberty Center, and will include a combination of retail, restaurants, office, and fitness across 15 acres. Prominent retailers and points of attraction nearby includes Target, Home Depot, Kroger, Meijer, Lowe’s, Dillard’s, Cabela’s, Planet Fitness, Cincinnati Children’s Hospital, UC Health West Hospital, Christ Medical Hospital, and prominent QSR/small shops such as Chick-Fil-A, Starbucks, Verizon, Raising Cane’s, and McDonalds. As part of two major developments, and co-located in a major retail corridor, the subject property sits on true irreplaceable real estate at the corner of Tyler’s Place Blvd and Preserve Pl which immediately see’s 32,290 vehicles per day and is directly off I-75 which sees over 136,575 vehicles per day. Beyond the two immediate developments, Liberty Township proves to be a high growth suburb with dynamic demographics. Immediate demographics are dense and affluent with population counts of 2,683 within 1-mile, 58,734 within 3-miles and 135,554 within 5-miles, and a huge 1-mile average household income of $197,146. Population counts have grown 45%, 36% and 39% respectively since 2000. Liberty Township is a suburb of Cincinnati and is situated 20-miles from downtown Cincinnati. The Cincinnati MSA has a total population of 2.23m and is ranked as the 30th largest MSA in the nation.

Investment Highlights

  • The Learning Experience | Brand-New Construction with Estimated 2022 Completion | First TLE Location in the Cincinnati MSA (Population Over 2.23m)
  • Part of Liberty Center & Oaks at Wetherington Developments | Class-A Lifestyle Center Developed in 2015 | Over 1.3 Million Square Feet of Retail, Office Dining, Entertainment and Hotel Options
  • Rare 16-Year Initial Lease Term | No Early Termination Clause | Enhanced Location-Specific Performance Reporting by TLE
  • Significant 12% Rent Bumps Every 5-Years | Hedge Against Inflation | Increases CAP Rate to 7.56% in Year 5 and 8.47% in Year 10
  • 10,000 Square Foot Build-to-Suit on Large Parcel | Upgraded Prototypical Construction | Brick, Stone & Wood | Harmonized Design with Adjacent Developments
  • Dense & Affluent Demographics Cater Extremely Well to Tenant | Average Household Income In Excess of $197,000 | 58,734 Residents within 3-Miles & 135,554 Residents within 5-Miles
  • True Irreplaceable Real Estate | Directly Sees 32,290 Vehicles Per Day | Off-Highway Location – I-75 Sees Over 136,575 Vehicles Per Day
  • The Learning Experience is Fastest Growing Childcare & Early Education Franchises with Over 300 Locations | TLE is On Track to Hit 110 Percent of Pre-COVID Numbers by September of 2021 Per 2021 Annual Report | Complete Lack of Competition in Immediate Area

Exclusively Listed By

Financing By

Child Care

The Learning Experience

Listing Price: $5,705,000

Cap Rate
6.50%
Tenant Name
The Learning Experience
Years Remaining On Lease
16.2
Guarantor
Corporate Guarantee
Rentable SF
10,000
Lease Type
Absolute Net
Rent Per Square Feet
$37.08

Investment Highlights

  • The Learning Experience | Brand-New Construction with Estimated 2022 Completion | First TLE Location in the Cincinnati MSA (Population Over 2.23m)
  • Part of Liberty Center & Oaks at Wetherington Developments | Class-A Lifestyle Center Developed in 2015 | Over 1.3 Million Square Feet of Retail, Office Dining, Entertainment and Hotel Options
  • Rare 16-Year Initial Lease Term | No Early Termination Clause | Enhanced Location-Specific Performance Reporting by TLE
  • Significant 12% Rent Bumps Every 5-Years | Hedge Against Inflation | Increases CAP Rate to 7.56% in Year 5 and 8.47% in Year 10
  • 10,000 Square Foot Build-to-Suit on Large Parcel | Upgraded Prototypical Construction | Brick, Stone & Wood | Harmonized Design with Adjacent Developments
  • Dense & Affluent Demographics Cater Extremely Well to Tenant | Average Household Income In Excess of $197,000 | 58,734 Residents within 3-Miles & 135,554 Residents within 5-Miles
  • True Irreplaceable Real Estate | Directly Sees 32,290 Vehicles Per Day | Off-Highway Location – I-75 Sees Over 136,575 Vehicles Per Day
  • The Learning Experience is Fastest Growing Childcare & Early Education Franchises with Over 300 Locations | TLE is On Track to Hit 110 Percent of Pre-COVID Numbers by September of 2021 Per 2021 Annual Report | Complete Lack of Competition in Immediate Area

Investment Overview

Marcus & Millichap is pleased to present, The Learning Experience, located in West Chester, Ohio. The subject property is a brand-new build-to-suit development with 2022 construction. The subject property measures 10,000 square-feet and is situated on 0.902 acres. As a catalyst to this top-tier development, The Learning Experience (TLE), signed a rare, landlord favorable, 16-year lease with 12% rent bumps every 5-years. TLE is responsible for all operating expenses which includes Tax, CAM and Insurance Expenses, as well as additional admin fees associates with the greater Oaks at Wetherington development. This TLE location will be the first site in the Cincinnati MSA, and will also include upgraded Brick, Stone & Wood construction. As part of the lease, TLE agreed to a modified guaranty structure, which specifies an above average burnoff of $800,000 over 8-years, opposed to the typical $500,000 over 5-years, which shows an overall bullish view of the site and area. Ownership benefits from a favorable & rare lease structure, brand-new construction, long-term lease, and true irreplaceable real estate. The subject property is located in Liberty Township and is part of the Liberty Center & Oaks at Wetherington Development. Liberty Center is a Class-A lifestyle center built in 2015 which spans 64-acres and includes over 1.3 million square feet of retail, office dining, entertainment and hotel options. The Oaks at Wetherington is a sister development of Liberty Center, and will include a combination of retail, restaurants, office, and fitness across 15 acres. Prominent retailers and points of attraction nearby includes Target, Home Depot, Kroger, Meijer, Lowe’s, Dillard’s, Cabela’s, Planet Fitness, Cincinnati Children’s Hospital, UC Health West Hospital, Christ Medical Hospital, and prominent QSR/small shops such as Chick-Fil-A, Starbucks, Verizon, Raising Cane’s, and McDonalds. As part of two major developments, and co-located in a major retail corridor, the subject property sits on true irreplaceable real estate at the corner of Tyler’s Place Blvd and Preserve Pl which immediately see’s 32,290 vehicles per day and is directly off I-75 which sees over 136,575 vehicles per day. Beyond the two immediate developments, Liberty Township proves to be a high growth suburb with dynamic demographics. Immediate demographics are dense and affluent with population counts of 2,683 within 1-mile, 58,734 within 3-miles and 135,554 within 5-miles, and a huge 1-mile average household income of $197,146. Population counts have grown 45%, 36% and 39% respectively since 2000. Liberty Township is a suburb of Cincinnati and is situated 20-miles from downtown Cincinnati. The Cincinnati MSA has a total population of 2.23m and is ranked as the 30th largest MSA in the nation.

Exclusively Listed By

Financing By

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