triple net property for sale | the boulder group

8/11/2019 Triple Net Property for Sale | The Boulder Group

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KINDERCARE1553 Arcadian Lane, De Pere, WI 54115 (Green Bay MSA)



TABLE OF CONTENTS

TABLE OF CONTENTS

NET LEASE INVESTMENT OFFERING

TABLE OF CONTENTS

I. Executive Summary

Executive Summary

Investment Highlights

Property Overview

II. Location Overview

Photographs

Site Plan

Aerial

Map

III. Market & Tenant Overview

Demographics

Location Overview

Tenant Prole



DISCLAIMER

STATEMENT:

DISCLAIMER STATEMENTTABLE OF CONTENTS

DISCLAIMER STATEMENT

The information contained in the following Offering Memorandum is proprietary and strictly condential. It is intended

to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other

person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unveried information to prospective purchasers,

and to establish only a preliminary level of interest in the subject property. The information contained herein is not a

substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes

no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable;

however, The Boulder Group has not veried, and will not verify, any of the information contained herein, nor has

The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation

whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must takeappropriate measures to verify all of the information set forth herein.





The Boulder Group is pleased to exclusively market for sale a single tenant net leased corporately guaranteed

KinderCare property located within the Green Bay MSA. This is a proven KinderCare location as evidenced by their

long and successful operating history and their recent lease extension. In July 2014, KinderCare executed a newten year lease. The ten year lease expires July 31, 2024 and features a 5% rental escalation in the primary term.

KinderCare is the largest for-prot child care provider in the country and operates over 1,600 locations.

The 2.84 acre KinderCare property is situated between Arcadian Lane and Heritage Road. Heritage Road is a

main thoroughfare in the area. The property benets from its location that is surrounded by single family homes.

Additionally, the KinderCare property benets from its proximity to several elementary schools including Altmayer

Elementary, Dickinson Elementary, and Heritage Elementary. All three schools have enrollment in excess of 520

students and are located less than two miles from the property. There are approximately 70,000 people living within

a ve mile radius of the property earning average household incomes in excess of $71,000.

EXECUTIVE

SUMMARY:

EXECUTIVE SUMMARY




INVESTMENT

HIGHLIGHTS:

• Located within the Green Bay MSA

• Long term lease with approximately ten years remaining

• KinderCare is committed to this location as evidenced by their recent execution of a new lease extension

• Rental escalation in the primary term

• KinderCare is the largest for-prot child care provider in the country

• No landlord responsibilities

• Approximately 70,000 people living within a ve mile radius earning average household incomes in excess of

$71,000

• Long and successful operating history at this location (1999)

INVESTMENT HIGHLIGHTS




PROPERTY

OVERVIEW:Price: $1,350,000

Current Cap Rate: 7.60%

Net Operating Income: $101,800

Rental Escalations: $106,890 (8/1/2019)

Renewal Options: Three 5-Year*

Lease Commencement Date: July 14, 1999

Lease Expiration Date: July 31, 2024

Tenant: KinderCare

Year Built: 1997

Lease Type: NNN

Building Size: 10,293 SF

Land Size: 2.84 acres

PROPERTY OVERVIEW

* Renewal options are at Fair Market Value but not less than 90% or more than 110% of the base rent in effect for the lease

term immediately preceding the option period for which base rent is being determined.




PHOTOGRAPHS




SITE PLAN

Toddler

Area

Play

Area

HERITAGE ROAD

ARCAD I AN LAN E




AERIAL

FORM OFFICE PARKFORM OFFICE PARK

GLOBAL HEADQUARTERS

P O P L AR AV E N U E

K I R B Y P A R K W A Y

3 7 ,0 0 0 V P D

2 5

,

0 0 0

V P D

P O P L AR AV E N U E

K I R B Y P A R K W A Y

3 7 ,0 0 0 V P D

2 5

,

0 0 0

V P D

DE PERE EAST

INDUSTRIAL PARK

DE PERE EAST

INDUSTRIAL PARK

DICKINSON

ELEMENTARY

SCHOOL

HERITAGE

ELEMENTARY

SCHOOL

DE PERE

HIGH

SCHOOL

HERITAGE ROADHERITAGE ROAD

ARC AD I A N L N

ARC AD I A N L N




MAP




KinderCare Learning Center was founded in 1969 and is an American operator of for-prot child care facilities.

The company provides educational programs for children ages six weeks to twelve years old. Some 200,000

children are enrolled in more than 1,600 early childhood education community centers, 600+ before-and-afterschool programs, and 100+ employer-sponsored centers in 39 states. KinderCare was acquired in 2005 by the

Knowledge Learning Corporation, a privately held education service rm. The deal was valued at over $1 billion

and made Knowledge Learning Center the nation’s largest private child care and education provider. KinderCare is

accredited by The National Association for the Education of Young Children (NAEYC).

Website: www.kindercare.com

Number of Locations: 1,600Number of Employees: 33,000

Year Founded: 1969

TENANT

PROFILE:

TENANT PROFILE




De Pere is a city located in Brown County, Wisconsin. As of the 2010 US Census, the population

of De Pere was 23,800. It is a suburb of Green Bay and is part of the Green Bay MSA. De Pere’s

historic downtowns offer unique shopping, casual and ne dining and live entertainment includinga comedy theatre and a variety of music. The community boasts an exceptional quality of life andis known for its beautiful river views, water sports, parks, progressive attitude and family friend-

liness. There is over 1,400 acres of modern business parks and De Pere is home to the area’s

largest employer, Humana. The community has two exceptional public school districts, a special

needs school, Montessori and parochial schools, and is also home to nationally recognized Saint Norbert College.

www.de-pere.org

Green Bay is a city in and the county seat of Brown County in the State of Wisconsin. It is located

at the head of Green Bay, a sub-basin of Lake Michigan, at the mouth of the Fox River. With a

2010 US Census population of 104,057, Green Bay is the third largest city in the state of Wisconsin.

Green Bay is located approximately 110 miles north of Milwaukee. Green Bay is the principal city ofthe Green Bay Metropolitan Statistical Area, which covers Brown, Kewaunee, and Oconto counties.

The MSA had a combined population of 306,241 at the 2010 census. Green Bay is home to theNational Football League Green Bay Packers, making it by far the smallest metropolitan area in the USA to host a major

professional sports franchise.

Green Bay is an industrial city with several meatpacking and paper plants, and a port on Green Bay, an arm of Lake

Michigan that locals call the Bay of Green Bay, to avoid conating it with the city. Notable employers in the region includeHumana, Schneider National, Oneida Nation of Wisconsin, Georgia-Pacic, and Bellin Memorial Hospital.

www.greenbay.com

LOCATION

OVERVIEW:

LOCATION OVERVIEW




DEMOGRAPHICS

Population 3-mi 5-mi 7-mi

Total Population 35,064 69,167 152,485

Total Households 14,007 28,020 61,929

Income 3-mi 5-mi 7-mi

Median Household Income $56,119 $52,995 $48,047

Average Household Income $76,155 $71,932 $64,199

DEMOGRAPHIC

REPORT:

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