Developers Sell 14 KinderCare Centers for $60M

Developers sold 14 KinderCare Learning Centers-occupied single-tenant properties for a total of more than $60 million. The properties were located in Wisconsin, Florida, North Carolina, Iowa, Nebraska and Michigan.

The individual buyers were private investors, with the majority in 1031 exchanges and about half paying all-cash. The newly developed single-tenant properties ranged from 10,000 to 13,000 square feet and sold at cap rates ranging from mid-5% to mid-6%.

SRS Real Estate Partners’ National Net Lease Group (NNLG) handled the sales. SRS NNLG’s Vice President Chad Lieber who specializes in child care-occupied facilities across the nation, represented the sellers in the transactions.

In 2021, SRS’ Investment Properties Group (IPG) and National Net Lease Group (NNLG) completed more than $3.1 billion in deal volume comprised of 899 transactions in 49 states, and currently has more than $2 billion in property on the market, with more than 465 properties sold year-to-date in 2022.