The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant triple net leased La Petite Academy property located at 2345 South Route 59 in Plainfield, IL for $2,401,542.
La Petite Academy is the sole occupant of the 9,960 square foot retail building used for a day care facility. The property is located on a 44,867 square foot parcel at the southwest corner of South Route 59 and Caton Farm Road in Plainfield, IL. Interstate 55, which has traffic counts in excess of 75,000 vehicles per day, is located approximately one mile east of the property. The property is fully leased to La Petite Academy with over five years of lease term remaining and features a 9% rental escalation in November 2014.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a private investor, in the transaction. The buyer was a high net worth individual located in the Midwest.
La Petite Academy has over five years remaining on an original twenty year lease. There are over 500 La Petite Academy locations nationwide. La Petite Academy is owned by Learning Care Group, Inc., the second-largest-for-profit child care provider in North America. They operate over 900 child care facilities under five different brands, Childtime Learning Centers, Tutor Time Child Care, The Children’s Courtyard, Montessori Unlimited, and La Petite Academy.
“The market for net lease properties in Top 50 MSAs remains robust as these assets are in high demand among private investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “As there are a limited amount of core assets in the market, some investors are seeking higher yielding assets with shorter term leases.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $1.6 billion of single tenant net lease real estate transactions. From 2011-2013, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com