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Bright Horizons | Mt. Olive, NJ 101 US Highway 206 8,830 SF Retail Building Flanders, NJ 07836 $3,284,000 ($371.91/SF) 7.25% Cap Rate
Investment Highlights
- Long-term corporate-guaranteed NNN lease to Bright Horizons with 5+ years remaining and a five-year renewal option.
- Prime location along Route 206 (31,000+ VPD), adjacent to The Gardens shopping center with approximately 5 million annual visits.
- Affluent Morris County demographics with average household incomes exceeding $195,000 within one mile and nearly 80,000 residents within five miles.
- Built-in annual rent increases of the lesser of 1.75% or CPI, providing contractual income growth.
- Surrounded by major national retailers including Walmart, Lowe’s, TJ Maxx, HomeGoods, PetSmart, Chipotle, and McDonald’s.
- Excellent accessibility less than 0.5 miles from Interstate 80, with combined traffic counts exceeding 130k VPD and continued residential growth.
Executive Summary
CBRE IS PLEASED TO EXCLUSIVELY PRESENT FOR SALE this Bright Horizons Family Solutions childcare facility located in Flanders, New Jersey, within the affluent and established Morris County market. The property is leased to Bright Horizons Children’s Centers LLC under a long-term corporate guaranteed NNN lease structure with more than five (5) years remaining in the initial term and attractive annual rental increases equal to the lesser of 1.75% or CPI growth. The asset is being offered fee simple and provides investors with durable cash flow backed by one of the nation’s premier early education operators.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Day Care Center
Building Size
8,830 SF
Building Class
B
Year Built
2005
Price
$3,284,000
Price Per SF
$371.91
Cap Rate
7.25%
NOI
$238,157
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.40 AC
Zoning
B-2
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Health Care and Social Assistance
- -
- -
- Jul 2031
Bright Horizons began in 1986 after founders identified child care as a barrier for working parents, and the company was built around employer-sponsored child care. Bright Horizons now provides back-up child care, elder care, tuition program management, education advising, student loan repayment support, and workforce education programs. The company also operates early education and child care centers and serves employers seeking family-care benefits that support employees across different life stages. Bright Horizons maintains a global market presence and supports employers and families in multiple international markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Health Care and Social Assistance | - | - | Jul 2031 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 36-09201-0000-00003 | Improvements Assessment | $2,211,000 |
| Land Assessment | $299,500 | Total Assessment | $2,510,500 |
Property Taxes
Parcel Number
36-09201-0000-00003
Land Assessment
$299,500
Improvements Assessment
$2,211,000
Total Assessment
$2,510,500
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