CORPORATE NNN LEASE: KinderCare has 8 years remaining on a 16-year NNN lease that features 3% annual increases as a hedge against inflation. The property is a large, 13,352 square foot brick building constructed in 2009.
STRONG LOCAL DEMOGRAPHICS TO SUPPORT INDUSTRY: Within 3-miles of the site, there is a population of 64,644 people which has grown 2.4% since 2020 and expected to grow an additional 3.6% by 2030. The average household income of the 3-mile population is $216,966 enabling the majority of the population to afford daycare.
CENTRALLY LOCATED IN BUSY RETAIL CORRIDOR: KinderCare sits centrally between major national retailers including 7-Eleven, McDonald’s, Chick-Fil-A, Taco Bell, Home Depot, and Giant Food which combine for over 3.7M customer visits annually according to Placer.Ai. This location provides convenience for parents for quick grocery, hardware, shopping, and fast food making it an attractive child care facility.
LARGE PARCEL ALONG US-50 (47,000 VPD): The Tenant is positioned along John S. Mosby Hwy (US-50) and Elk Lick Rd which see 47,000 and 2,400 VPD respectively. KinderCare sits on 1.23 acres of land providing ample space for multiple playground facilities.
CREDIT RATED TENANT: KinderCare Learning Companies provides security as a reliable national tenant. They have earned a ‘B+’ rating from Fitch. Additionally, the guaranty on the lease, Kuegh Corp, a subsidiary of KinderCare Learning companies achieved the same rating. KinderCare trades on the NYSE as ‘KLC’
EXCEPTIONAL LOCATION ENROLLMENT: Despite being in a highly competitive day care market, KinderCare continues as an industry leader in the area. Over x years they have averaged x students, provided steady and consistent income.