Triple net property for sale | The Boulder Group

KINDERCARE 1553 Arcadian Lane, De Pere, WI 54115 (Green Bay MSA)

TABLE TABLE OF CONTENTS

TABLE OF CONTENTS I. Executive Summary

II. Location Overview

III. Market & Tenant Overview

Executive Summary

Photographs

Demographics

Investment Highlights

Site Plan

Location Overview

Property Overview

Aerial

Tenant Profile

Map

NET LEASE INVESTMENT OFFERING

DISCLAIMER TABLE OFSTATEMENT CONTENTS

DISCLAIMER STATEMENT:

The information contained in the following Offering Memorandum is proprietary and strictly confidential. 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, unverified 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 verified, 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 take appropriate measures to verify all of the information set forth herein.

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EXECUTIVE SUMMARY

EXECUTIVE SUMMARY:

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 new ten 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-profit 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 benefits from its location that is surrounded by single family homes.

Additionally, the KinderCare property benefits 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 five mile radius of the property earning average household incomes in excess of $71,000.

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INVESTMENT HIGHLIGHTS

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-profit child care provider in the country • No landlord responsibilities • Approximately 70,000 people living within a five mile radius earning average household incomes in excess of $71,000 • Long and successful operating history at this location (1999)

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PROPERTY OVERVIEW

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

* 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.

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PHOTOGRAPHS

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SITE PLAN

HERITAGE ROAD

Play Area

Toddler Area

ARCADIAN LA NE

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AERIAL

GLOBAL HEADQUARTERS

DICKINSON ELEMENTARY SCHOOL

DE PERE HIGH SCHOOL

0 VPD 25,00

POPL

AR A VENU E 37,00

0 VPD

K I R B Y PARKW AY

DE PERE EAST INDUSTRIAL PARK

HERITAGE ROAD

HERITAGE ARCADI AN LN

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FORM OFFICE PARK

ELEMENTARY SCHOOL

MAP

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TENANT PROFILE

TENANT PROFILE:

KinderCare Learning Center was founded in 1969 and is an American operator of for-profit 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-after school programs, and 100+ employer-sponsored centers in 39 states. KinderCare was acquired in 2005 by the Knowledge Learning Corporation, a privately held education service firm. 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: Number of Locations: Number of Employees: Year Founded:

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www.kindercare.com 1,600 33,000 1969

LOCATION OVERVIEW

LOCATION OVERVIEW:

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 fine dining and live entertainment including a comedy theatre and a variety of music. The community boasts an exceptional quality of life and is known for its beautiful river views, water sports, parks, progressive attitude and family friendliness. 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 of the 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 the National 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 conflating it with the city. Notable employers in the region include Humana, Schneider National, Oneida Nation of Wisconsin, Georgia-Pacific, and Bellin Memorial Hospital. www.greenbay.com

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DEMOGRAPHICS

DEMOGRAPHIC REPORT:

Population

3-mi

5-mi

7-mi

Total Population

35,064

69,167

152,485

Total Households

14,007

28,020

61,929

3-mi

5-mi

7-mi

Median Household Income

$56,119

$52,995

$48,047

Average Household Income

$76,155

$71,932

$64,199

Income

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Randy Blankstein President 847.562.0003 randy@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com