Child Care
KinderCare Learning Center
2240 E Parham Rd, Richmond, VA 23228
Listing Price: $2,482,473
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a KinderCare Learning Center located at 2240 East Parham Road in Richmond, Virginia. The site consists of roughly 6,260 rentable square feet of building space on estimated 0.87-acre parcel of land. This Learning Tree is subject to a 12-year absolute triple-net (NNN) lease, which commenced June 1st, 2021. The current annual rent is set to increase every five years by the lesser of 10% or the change in Consumer Price Index during the preceding term. KinderCare recently extended the lease until 2033 showing commitment to the location. This property features a corporate guaranty from Kinder Care Education, the parent company of KinderCare Learning Centers and includes the additional brands of Knowledge Beginnings, Champions, The Grove School, and Cambridge Schools. KinderCare Learning Centers is the largest childcare provider in the United States, with more than 1,500 learning centers in 40 states and Washington D.C.
Listing Price: $2,482,473
Investment Highlights
- Long-Term, 12-Year Absolute Triple Net (NNN) Lease
- Approximately 11 Years Remaining On The Base Term
- Early Lease Extension to 2033, Demonstrating Tenant Commitment to This Location
Investment Overview
Marcus & Millichap is pleased to present the exclusive listing for a KinderCare Learning Center located at 2240 East Parham Road in Richmond, Virginia. The site consists of roughly 6,260 rentable square feet of building space on estimated 0.87-acre parcel of land. This Learning Tree is subject to a 12-year absolute triple-net (NNN) lease, which commenced June 1st, 2021. The current annual rent is set to increase every five years by the lesser of 10% or the change in Consumer Price Index during the preceding term. KinderCare recently extended the lease until 2033 showing commitment to the location. This property features a corporate guaranty from Kinder Care Education, the parent company of KinderCare Learning Centers and includes the additional brands of Knowledge Beginnings, Champions, The Grove School, and Cambridge Schools. KinderCare Learning Centers is the largest childcare provider in the United States, with more than 1,500 learning centers in 40 states and Washington D.C.
