- The tenant has 15+ years remaining on their lease with 2 (5-year) options, demonstrating their commitment to the site
- There are 12% rental increases every 5 years during the initial term and at the beginning of each option period, growing the NOI and hedging against inflation
- The lease is guaranteed by The Learning Experience Corp. with a burn off after year 7
- Founded in 1980, The Learning Experience is among the leading providers in early childhood education and daycare with over 450 centers in operation
- The building is new 2023 construction with high quality materials and distinct design elements
Investment Offering
Viera (Melbourne), FL - The Learning Experience
6106 Breslay Dr | Viera, FL 32940
$5,499,000
Price6.5%
Cap Rate$357,492
NOI2023
Year Built10,000
± SF Offering GLA1.32
± AC Land AreaDescription
Location
- More than 77,000 residents and 30,000 employees support the trade area
- $123,660 average household income
- Less than 2 miles down the road from the subject site, Borrows West Park, a 115-acre mixed-use development has just finished its first stage of completion. The development will eventually boast two hotels, apartments, and a business park upon completion of the succeeding stages
- General Hotels Corporation and Weathervane Capital Partners have begun work on the Homewood Suites located in the Borrows West Park development
- The asset is located near several surrounding schools such as Viera High School (2,157-students), Viera Charter School (1,351-students), Manatee Elementary School (1,192-students), Mid County Middle School (opening August 2024), and more
- Given the site’s ideal location less than 2 miles off I-95 (84,000 VPD), users will benefit from the ease and convenience of direct on/off ramp access
- The Learning Experience is positioned near several single-family home developments such as Eason Landing, Bayhill, Indigo Crossing, Viera North, Auburn Lakes, and more providing a direct consumer base to draw from
Documents & Links
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 Offering Memorandum |  |  |
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739