23 Barbour Pond Dr - Day Care Center FOR SALE


Wayne, NJ 07470
$3,637,000 USD
310-691-1350
23 Barbour Pond Dr, Wayne, NJ for Sale
$3,637,000 USD
Day Care Center - FOR SALE
1/7
null | 6.25% Cap Rate

23 Barbour Pond Dr
Wayne, NJ 07470


HIGHLIGHTS

  • 30-year Historical Occupancy with Recent 10-Year Extension
  • Corporate Absolute NNN Lease
  • 3,500 New Multi-Family Units Planned in Wayne, NJ with 473 Units in development adjacent to the Property (AvalonBay Communities)
  • Supported by Affluent Average Household Incomes of $158K+ (3-mile)
  • 15+ Early Education Centers Supporting the Market (5-mile)
  • KinderCare (NYSE: KLC) - Largest Provider of Early Childhood Education in the US

OVERVIEW

Pegasus Investments Real Estate Advisory and ParaSell, Inc., as exclusive representatives for the Seller, are excited to offer investors the opportunity to acquire the fee simple interest in a long-term, corporate absolute triple net leased asset tenanted by the largest private provider of early childhood education in the country, KinderCare Learning Co. (NYSE: KLC), located in the New York City metro (Wayne, NJ) (“the Property”). The 9,390-square-foot facility sits on a large 5.42-acre parcel and is leased to KinderCare through August 2035. The lease features fixed rent escalations throughout the initial term and includes four 5-year renewal options with CPI-based increases (capped at 7.5%), offering investors both predictable income growth and inflation protection. KinderCare has occupied the premises for nearly 30 years, demonstrating the long-term stability and commitment of the tenant. A recent 10-year lease extension further underscores the strategic importance of this location to the tenant and reflects the persistent and growing demand for early childhood education in the area. Additionally, the Property has been held by the same ownership group for over two decades, offering investors a rare opportunity to acquire a truly generational asset. Located in Wayne, New Jersey, the Property benefits from strong underlying market fundamentals, evidenced by substantial new development activity in the area. Approximately 3,500 new multifamily units are planned across 8 major projects, representing a total projected investment of $650 million. Nearly 1,000 of these units are being developed by AvalonBay Communities, a best-in-class developer of luxury multifamily communities. Notably, AvalonBay is currently under construction on the development of 473 units adjacent to the Property, which will bring an influx of new families to the immediate market, further solidifying the demand for early education centers. Further, Wayne’s exceptional demographics include a five-mile population nearing 300,000 residents and household incomes ranging from $110,000 to $160,000 surrounding the Property, providing strong local affordability and a deep client base for KinderCare’s services. The area is also distinguished by its emphasis on education, with over 75% of residents holding college degrees and more than 21% having completed graduate-level studies. This aligns directly with KinderCare’s core mission and supports the continued demand for early childhood education in the area. The Property’s oversized parcel and strategic location in a supply-constrained region further enhance its long-term value, making it one of the most compelling suburban retail investments in the NYC metro. KinderCare Learning Companies is the country’s largest private childcare provider, with a national network of more than 2,600 centers. Backed by over five decades of experience and formerly owned by global private equity firm Partners Group, KinderCare has demonstrated remarkable financial growth in recent years. In 2023, the company generated $2.5 billion in revenue and reported $102.6 million in net income. That momentum continued into 2024 with an IPO raising $576 million, and into 2025 with strong first-quarter results: $668.2 million in revenue, $21.2 million in net income, and 12.2% year-over-year adjusted EBITDA growth. With further expansion underway and projected 2025 revenue between $2.75 and $2.85 billion, KinderCare remains one of the most stable, growth-oriented tenants in the market, offering investors reliable income backed by a well-capitalized operator. The early childhood education sector is experiencing explosive growth, expected to expand to over $310 billion by the end of 2025. This surge is fueled by rising workforce participation, increased awareness of early learning’s benefits, and bipartisan government support. As a result, demand for high-quality, accessible childcare has intensified, especially in dense, supply-constrained metros like New York City. ECE assets, particularly those on long-term, triple-net leases, offer investors recession-resistant, essential-service tenancy with minimal management requirements. The Wayne location benefits not only from KinderCare’s national reputation but also from NYC’s broader market fundamentals: a large and growing population base, transit-oriented development, and enduring investor demand. Amid continued urban revitalization across Northern New Jersey and surrounding boroughs, this asset offers a compelling combination of income stability, tenant credit, and long-term appreciation potential.

FOR SALE DETAILS

PRICE

$3,637,000 USD

PRICE/SF

$440 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Corporate NNN KinderCare | NYC Metro

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Day Care Center

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

41

LAND DETAILS

LAND ACRES

5.42 AC

LAND SF

236,138 SF

ZONING

14 03103-0000-00018

APN/PARCEL ID

14-03103-0000-00018-01

ASK ABOUT THIS PROPERTY

David ChasinPegasus InvestmentsMore Info
310-691-1350

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David ChasinPegasus InvestmentsMore Info
310-691-1350

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.