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Views: 92 Updated: 11.28.23 Posted: 09.30.23 Status: Inactive

Summary

Price $2,773,000
Built/Renov 1996
Tenant Cadence Academy
Cap Rate 6.50%
Lease Type NN+
Guarantor Corporate
Size/SF 10,240
Lease Start 01-30-2020
#Units 300
Price/SF $270.80
Expiration 01-30-2035
Tenant Type Daycare/Education
NOI $180,200
R. Term 10.4
Ownership Fee Simple
Rent/SF $17.60
Increases 6.0%/3/yrs
Pop 5Mi 128,455
Lot/AC 3.04
Options 2/5yrs/6%
AHHI 5Mi $97,052

Lease Highlights

  • Cadence Academy has over 11 years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features 6% rental increase every 3 year throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee by Apax Partners

Location Description

This 10,240 square foot Cadence Academy is strategically located at the signalized, hard corner intersection of Chews Landing Road and Sicklerville Road with access to 26,000 vehicles per day. The site benefits from its location within a dense residential area providing a direct consumer base for the site to draw from. Additionally, the tenant is within close proximity to Winslow Township...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Cadence Academy
  • Guarantor:Corporate
  • Company:Cadence Education, LLC
  • # 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 : 7,088 61,183 135,196
2023 Total Population : 7,119 60,323 133,784
2023 Employed Civilian Pop : 3,604 31,159 70,651
2023 Total Businesses : 133 1,293 3,054
2023 Average Household Income : $ 115,102 $ 119,735 $ 120,817
2023 Total Consumer Spending : $ 253 M $ 2237 M $ 5047 M
2023 Median Age : 36 39 39
2023 Total Households : 2,568 21,900 49,055
2023 Pop Age 25+: Bachelor's Degree : 979 8,702 21,217
2023 Average Home Value : $ 285,637 $ 294,038 $ 305,680
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Sicklerville Road Wilby Rd 2017 17,621 0.09 mi
Sicklerville Rd Erial Williamstown Rd 2014 15,972 0.16 mi
Sicklerville Road Erial Williamstown Rd 2018 17,288 0.22 mi
Chews Landing Road Orlando Dr 2019 9,043 0.31 mi
Sicklerville Rd Westerly Dr 2015 13,067 0.58 mi
New Brooklyn-Erial Rd Ivy Ln 2017 3,379 0.67 mi
Williamstown Rd Cross Keys Rd 2015 9,679 0.72 mi
Cross Keys Rd Sicklerville Rd 2012 30,319 0.81 mi
Cross Keys Rd Atlantic City Expy 2014 36,574 0.83 mi
Sicklerville Road Rose Ct 2018 16,021 0.86 mi

Listing Broker

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