200 Allen Bradley Dr
Mayfield Heights, OH 44124
Absolute NNN Kindercare | New 10-Year Ext. · Retail Property For Sale

Marcus & Millichap is pleased to present KinderCare in Mayfield Heights, Ohio. The subject property is the fee simple interest in a 7,492-square-foot freestanding building situated on 1.3 acres. KinderCare is bound by absolute NNN terms through September 2028, providing ten years of remaining lease term. As an absolute NNN lease, there are zero landlord responsibilities. The building was constructed in 1998 and KinderCare just extended their lease ten years, showing strong commitment to the location and providing the prospective investor confidence in KinderCare’s 19 successful years of tenancy at the site. There are three, five-year options remaining, each with substantive rent increases. KinderCare Education LLC is the nation’s leading operator of child day care centers, with over 1,370 accredited centers operating under a variety of banners throughout 39 states. KinderCare employs over 33,000, including 27,000 teachers, and educates over 158,000 children per day. The subject property is strategically located within the Landerhaven Corporate Center and just east of Landerbrook, both of which are long-established and highly-occupied office parks that feature a total of 2.5 million square feet of office space, including the global headquarters for Parker Hannifin Corporation as well as major operations for Rockwell Automation and Progressive Insurance, which is headquartered just north in Mayfield Village. All three are Fortune 500 firms, and the office parks are currently leased to 95% occupancy. Other notable office park tenants include University Hospitals, State Industrial Products, Ferro Corporation, Park Ohio, Materion, Elk & Elk, Selman & Company, and Laser Spine Institute to name a few. Demographics in the surrounding area are strong, with 6,875 residents within one mile, 52,540 residents within three miles, and 132,754 residents within five miles. Dense infill residential streets within the City of Mayfield Heights are just one-half mile north of the subject property, and the highly affluent communities of Pepper Pike, Hunting Valley, and Gates Mills are located immediately south and east, with the subject property’s location providing convenient access to parents within all of the aforementioned communities. Average household income is $94,716 within a five mile radius. KinderCare is located on Cleveland’s east side, with the Cleveland metropolitan area home to more than 2 million residents.