Spring Education
Sewell, NJ
Key Details
| Price: | $6,289,621 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $440,274 |
| Address: | 279 Egg Harbor Road, Sewell, New Jersey 08080 |
| Property Type: | Specialty |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 3.00% Annually |
| Lot Size: | 2.38 Acres |
| Building Size: | 8,403 SF |
| Year Built: | 1986 |
NNN Pro Group is pleased to present the exclusive listing for a Chesterbrook Academy located at 279 Egg Harbor Rd in Sewell, New Jersey. The site consists of roughly 8,403 rentable square feet of building space on estimated 2.38-acre parcel of land. This Chesterbrook Academy is subject to an existing NNN lease in place with Spring Education that will reset to 20 years upon close of escrow. The current annual rent is $440,274 and is scheduled to increase by 3% annually throughout the base term and in each of the 4, 5-year renewal options.
About the Investment
- Existing Lease in Place with Spring Education That Will Reset to 20 Years Upon Close of Escrow
- Triple Net (NNN) Lease with Zero Landlord Responsibilities
- Corporate Guarantee from Spring Education Group
- Attractive 3.00% Annual Rental Increases
- Four (4) Tenant Renewal Periods of Five (5) Years Each
About the Location
- Affluent Community | Average Household Income Exceeding $159,600 Within a Five-Mile Radius
- Strong Academic Presence | Rowan College of South Jersey | Located Approximately Three-Miles Away | Over 6,600 Students Enrolled
- Dense Residential Corridor | Over 64,413 Households Within a Five-Mile Radius of the Subject Property
- Strong Demographics | Population Exceeds 176,382 Individuals Within a Five-Mile Radius
- Strong Real Estate Fundamentals | Located Approximately 16-Miles from Downtown Philadelphia, PA
- Strong Traffic Counts | Over 19,300 Per Day Along Egg Harbor Road
- Philadelphia International Airport | Located Approximately Twelve-Miles Away |Serves over 25.2 Million Passengers Per Year
- Dense Retail Corridor | Walgreens, CVS Pharmacy, Ace Hardware, Mavis Discount Tires, Wawa, Dunkin’ Donuts, Starbucks, Chipotle and Many More
About the Tenant/Brand
- Spring Education Group (SEG) Is The #1 Prek-12 Private School Operator In North America
- SEG Operates ~200 Schools Across 19 States + D.C. Plus a Growing Presence in China and Thailand
- 42,000+ Full-Time Equivalent Students Across 29 Brands, Delivering Outstanding Educational Outcomes to Mass Affluent Families Across the Country
- Chesterbrook Academy has Private Preschools and Elementary Schools Across the Country that Build the Solid Academic Foundation Students Need For Future Success
Key Details
| Price: | $6,289,621 |
|---|---|
| Cap Rate: | 7.00% |
| Annual Rent: | $440,274 |
| Address: | 279 Egg Harbor Road, Sewell, New Jersey 08080 |
| Property Type: | Specialty |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 3.00% Annually |
| Lot Size: | 2.38 Acres |
| Building Size: | 8,403 SF |
| Year Built: | 1986 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Edward Otocka
eotocka@nnnpro.com
License: NY: 10401298466
Amelia Haydock
ahaydock@nnnpro.com
License: NY: 10401334976
Patrick Finn
pfinn@nnnpro.com
License: NY: 10301222858
Joseph Kelly
jkelly@nnnpro.com
License: NY: 10401386896
Broker of Record
Brian Brockman
Bang Realty-New Jersey, Inc
License: 2078547
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.