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Views: 80 Updated: 11.07.23 Posted: 11.02.23 Status: Inactive

Summary

Price $4,810,000
Built/Renov 2007
Tenant Cadence Academy
Cap Rate 6.50%
Lease Type NN+
Guarantor Corporate
Size/SF 29,353
Lease Start 02-01-2020
#Units 300
Price/SF $163.87
Expiration 01-31-2035
Tenant Type Daycare/Education
NOI $312,700
R. Term 10.2
Ownership Fee Simple
Rent/SF $10.65
Increases 6.0%/3/yrs
Pop 5Mi 150,028
Lot/AC 3.53
Options 2/5yrs/6%
AHHI 5Mi $98,893

Lease Highlights

  • Cadence Academy has 11+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features rare 6% rental increase every 3 years
  • Favorable NN+ lease with landlord responsible for roof
  • Corporate guarantee by Apax Partners

Location Description

Cadence Academy is strategically located along Fries Mill Road, with clear visibility and access to 27,000 vehicles passing by daily. The 5-mile trade area is supported by a population of 150,028 residents and more than 56,000 households earning an average annual income of $98,893. Sewell is an unincorporated community situated in the southwestern part of New Jersey, specifically in Mantua...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Cadence Academy
  • Guarantor:Corporate
  • Company:Apax Partners
  • # Units:300
  • Stock:Private

About Tenant

Cadence Education is one of the largest providers of early childhood care in the United States. Cadence Education programs are tailored to each developmental stage in children from six weeks to 12...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,584 56,489 156,031
2023 Total Population : 7,287 55,828 154,564
2023 Employed Civilian Pop : 4,012 30,679 78,579
2023 Total Businesses : 213 1,671 4,162
2023 Average Household Income : $ 134,863 $ 137,312 $ 126,203
2023 Total Consumer Spending : $ 302 M $ 2360 M $ 5889 M
2023 Median Age : 40 41 38
2023 Total Households : 2,657 20,321 54,887
2023 Pop Age 25+: Bachelor's Degree : 1,751 11,260 26,078
2023 Average Home Value : $ 350,201 $ 329,897 $ 315,482
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fries Mill Road Adele Dr 2019 13,423 0.04 mi
Fries Mill Road Scotch Dr 2018 7,357 0.31 mi
Fries Mill Road 2018 13,639 0.34 mi
Hurffville Crosskeys Rd Sunhaven Dr 2002 13,969 0.41 mi
Fries Mill Road Orchardview Dr 2017 13,635 0.55 mi
Hurffville Crosskeys Road Bells Lake Rd 2017 7,458 0.64 mi
Glassboro Crosskeys Rd Fries Mill Rd 2017 13,431 0.76 mi
Hurffville - Cross Keys Road Medical Center Dr 2020 21,144 0.78 mi
Watson Drive Black Horse Pike 2019 5,379 0.81 mi
Cross Keys Byp Hurffville Crosskeys Rd 2018 13,212 0.84 mi

Listing Broker

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