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.
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