SOLD – Sunrise Preschools in Peoria, AZ
Peoria, AZ – Thursday, March 29, 2018 – Progressive Real Estate Partners, a leading Inland Empire retail brokerage, arranged the sale of a 9,384 square-foot single-tenant triple net Sunrise Preschool for $3.93M at a 6.50% cap rate. The preschool is located at 7642 W. Cactus Rd. in Peoria, Arizona, adjacent to a neighborhood center anchored by CVS.
Progressive Real Estate Partners investment sales experts Mike Lin, MBA and Brad Umansky represented the seller, in cooperation with Helix Properties LLC, an Arizona Real Estate Broker.
Positioned upon a 1.04 acre lot, Sunrise Preschool was sold as a triple net leased property with 13 years left on the lease. The tenant on the lease is Child Care Networks, a nationwide operator of day care centers with over 250 locations. The local brand, Sunrise Preschools, operates 30 locations in the Phoenix metropolitan area. The property is located in the city of Peoria, 15 miles northwest of Phoenix. The area surrounding the property features a dense population of 129,000 people and has forecasted a 5-year population growth of 8.2%, versus 3.7% for the United States.
« Previous Next »