Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer for sale the fee simple interest in this Everbrook Academy located in the wealthy Washington D.C. suburb of Gainesville, Virginia. The Tenant, Everbrook Academy, is a high-end daycare facility owned by Learning Care Group, Inc., the second largest for-profit child care provider in North America and a leader in early education. The lease is guaranteed by Learning Care Group, and thus benefits from strong corporate credit from a 900-unit guarantor with several different school brands. Learning Care Group, Inc. is planning a 100+ unit roll out of the Everbrook brand over the next few years, 15-20 of which will be in the Washington, D.C. and Baltimore markets. The company notes it may see an IPO in 2018.
This newly constructed location opened in March 2018, subject to a 15- year modified NNN lease. The lease language stipulates that Landlord is
responsible for the maintenance, repair and replacement of the structural components only. The lease features 7.5 percent rental increases every five years during the base term and three, five-year option periods. While the company is privately-held, financials are available upon execution of a Letter of Intent and a Confidentiality & Non-Disclosure Agreement. Everbrook Academy is located in Gainesville, an affluent outer ring suburb of the Washington D.C. Metro. The large 1.86-acre parcel is situated along Lee Highway (Route 29), a north-south highway that travels northbound to Washington, D.C. and southbound to Charlottesville, home of the University of Virginia. The Property is located just one-mile from the Route 29 interchange with Route 66, an east-west interstate highway and primary commuter route into Washington, D.C. This interchange is strategic for this school as it allows parents a convenient “workbound” drop-off location near Route 66. The daycare facility has excellent sight lines as the pad is slightly elevated from the road’s surface, and has easy access via a traffic signal and cross easements with neighboring pads 7-Eleven, Northwest Federal Credit Union and new Roy Rogers. The Tenant is located one-mile from Buckland Mills Elementary school and within two-and-one-half miles of three new townhome developments from Ryan Homes, Stanley Martin Homes and Richmond American Homes. Located approximately 35 miles southwest of Washington, D.C, Prince William County has emerged as an affluent bedroom community. Prince William County is the 2nd most populous and fastest growing county in Virginia as well as the 12th wealthiest in the country. Average household income within three miles of the Subject Property is $158,783, while population is projected to increase by nearly 24 percent by 2021. This thriving suburban location provides the Tenant with ideal demographics as the Tenant’s model is to find locations in affluent areas with strong population growth. In the past 15 years, Prince William has experienced an influx of new luxury housing developments. In a recent housing data study, 72% of homes within a 5-mile radius of the Property have been built since 2000. With acres of potential land, residential developments projects are ample in Prince William County with more than 20,000 housing units in the pipeline.
