The Learning Experience

1565 W Smokey Row Rd, Greenwood, IN 46143

$4,117,647

Cap Rate 6.80%

Views: 86 Updated: 11.24.23 Posted: 06.03.23 Status: Inactive

Summary

Price $4,117,647	Built/Renov 2023	Tenant The Learning Experience
Cap Rate 6.80%	Lease Type NN+	Guarantor Corporate
Size/SF 10,000	Lease Start 05-01-2023	#Units 340
Price/SF $411.76	Expiration 04-30-2043	Tenant Type Daycare/Education
NOI $280,000	R. Term 18.5	Ownership Fee Simple
Rent/SF $28.00	Increases 11.0%/5/yrs	Pop 5Mi 109,903
Lot/AC 1.05	Options 2/5yrs/11%	AHHI 5Mi $109,482

Lease Highlights

New 2023 build-to-suit construction

The Learning Experience recently signed a brand new 20-year lease with 2 (5-year) options to extend

Lease features 11% rental increases every 5 years throughout the initial term and at the start of each option period

Favorable NN+ lease with landlord responsibilities limited to roof & structure

Corporate guarantee by Golden Gate Capital

Location Description

This newly constructed 10,000 square-foot property is situated on a 1.05-acre lot along West Smokey Row Road with access to 2,359 vehicles per day. The site benefits from its proximity to US Hwy 31 (24,750 VPD) and Interstate 65 (80,099 VPD). National/credit tenants in the area include Kroger, Lowe’s, Target, Walmart, Best Buy and more. Additionally, there are multiple schools in the...

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Key Features

New construction
Near major nationals
Freeway close
Highway close
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Brand new lease
Long 20+ yr lease
Favorable NN+ lease
Corporate Guarantee

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Links

The Learning Experience Wikipedia Greenwood, Indiana Zip Code 46143 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: The Learning Experience
Guarantor:Corporate
Company:Golden Gate Capital
# Units:340
Stock:Private

About Tenant

The Learning Experience is an early childcare chain that develops and implements ground-breaking care and early childhood education programs throughout the country. TLE is one of America’s fastest...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,136	42,441	114,572
2023 Total Population :	2,145	41,796	111,690
2023 Employed Civilian Pop :	1,121	21,453	59,531
2023 Total Businesses :	45	593	2,592
2023 Average Household Income :	$ 149,363	$ 129,921	$ 115,675
2023 Total Consumer Spending :	$ 86 M	$ 1631 M	$ 4147 M
2023 Median Age :	39	38	39
2023 Total Households :	686	14,682	41,709
2023 Pop Age 25+: Bachelor's Degree :	452	7,958	19,157
2023 Average Home Value :	$ 450,309	$ 325,243	$ 287,846

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
County Road 600 North	Honeycreek Rd	2021	3,518	0.02 mi
Local	Honeycreek Rd	2020	3,306	0.02 mi
Smokey Row Rd	State Rd 135	2018	2,481	0.34 mi
Honeycreek Rd	Smokey Row Rd	2019	6,114	0.53 mi
Honeycreek Road	Smokey Row Rd	2021	5,745	0.53 mi
County Road 600 North	Honeycreek Rd	2021	4,922	0.63 mi
Smokey Row Rd	Tremont Dr	2006	1,712	0.67 mi
Honeycreek Road	Smokey Row Rd	2018	3,210	0.69 mi
County Road 300 W	Clary Blvd Dr S	2018	19,384	0.71 mi
Honeycreek Road	Stone Ridge Ct	2018	7,631	0.80 mi

Listing Broker

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
16833 Views
62 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
17382 Views
65 Sold

Randy Blankstein

President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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Jimmy Goodman

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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