Investment Overview

Marcus & Millichap is pleased to present for sale Childtime, located in Liverpool, New York. Childtime is one of the nations leading Child Care & Learning Center establishments, with nearly 200 locations across the country. Childtime is wholly owned by parent company Learning Care Group, Inc, who operates 11 childcare brands, spanning over 1,050 locations, 20,000 employees, and has an annual enrollment count of over 156,000 students. Childtime comes with a corporate guaranty by Childtime Childcare, Inc, and is headquartered in Novi, Michigan. The subject property is a long-standing site, which was constructed in 1989 and retrofit in 1994 for Childtime. The subject property measures 6,200 square-feet and is situated on an oversized parcel measuring 1.76 acres. As a catalyst to their build out, Childtime signed an initial 20-year lease which ran until 2019 and has since exercised two options. Childtime just recently exemplified commitment & success at the site via extending their lease for an additional 5-years, which runs until 1/31/2029. Childtime has two 5-year options remaining after current term. Childtime is currently paying well below marker rent of only $9.19/SF and has rent increases averaging 5.27% in option periods, which provides a steady hedge against inflation. Childtime is bound by a landlord favorable triple-net lease and is responsible for all operating expenses which includes Tax, CAM & Insurance expenses, as well as roof & structure costs. Ownership benefits from a prominent & well-backed brand, favorable lease structure, top-quality construction, and irreplaceable real estate. The subject property is located in Liverpool, NY, which is part of the Syracuse MSA and home to over 662,557 people. Childtime is located along Morgan Rd, which sees over 15,152 vehicles per day. The subject property benefits from being immediately surrounded by dense residential neighborhoods, and one the region’s top industrial hubs. The combination of residential and industrial uses nearby provides a thriving daytime workforce and the need for nearby childcare options. Immediate permanent demographics are dense and mature with population counts of 6,684 within 1-mile, 51,491 within 3-miles and 118,525 within 5-miles. Syracuse is the County Sea of Onondaga County and the 5th Most Populous City in New York. Syracuse is home to Syracuse University, SUNY Upstate Medical University, SUNY ESF, and Le Moyne College.