KinderCare – Allentown, PA

KinderCare – Allentown, PA

KinderCare – Allentown, PA
7575 Penn Drive
Allentown, PA 18106

$1,170,000

Cap Rate 8.63%
Gross Leasable Area (GLA) 7,516
Price Per Square Foot (GLA) $156
Year Built 1987
Lot Size 2.00 Acres
 
  • Corporately Guaranteed Lease by Knowledge Universe Education LLC (1700+ locations)
  • KUE LLC has a Current (March 2015) Standard & Poor’s Corporate Credit Rating of “B”
  • KinderCare has operated at this location since 1999
  • Tenant just Renewed in May 2014 for an Additional 5 Years showing commitment to Location with Additional Options Remaining
  • Licensed Occupancy is 116 Kids – Currently 110 Kids Enrolled
  • This Location has had a Historical Occupancy of 95% of Capacity
  • Strong Demographic Profile; Population within the Submarket has grown 22.54% since 2000 and the Average Household Income is above $103K
 
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: KinderCare – Allentown, PA (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

On behalf of ownership, Marcus & Millichap exclusively presents the opportunity to acquire a NN fee simple KinderCare located in Allentown, Lehigh County, Pennsylvania. The tenant just renewed their lease in May 2014 for an additional 5 years showing their commitment to the location. The lease is under a corporate guarantee from Knowledge Universe Education LLC (KUE LLC), a majority-owned and controlled subsidiary of Knowledge Universe Educational Holdings Inc. KUE LLC is, by far, the nation’s leading provider of early childhood education operating under the brand names of KinderCare, Knowledge Beginnings and others. The company also operates for profit adult education and corporate training facilities. KUE LLC has over 1700 locations operating throughout the U.S. Together with Knowledge Universe Educational Holdings Inc.; the firm is one of Portland, Oregon’s largest employers with over 40,000 employees serving over 300,000 students daily.

The subject property is strategically located in the heart of over 1M square feet of industrial & office space and home to over 20 major companies such as Sam Adams brewing plant, UTZ Foods, Nestle Water, Coca Cola Syrup Plant and Sharp Corporation. KinderCare is situated off of Interstate 78, which connects New York to Harrisburg.

For More Information, Please Contact:

James Medefind

Senior Associate
813-387-4788
james.Medefind@marcusmillichap.com