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