Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant net lease early childhood education facility leased to Knowledge Beginnings, one of several brands under the KinderCare Education group. The 10,400-square-foot property is located at 6000 Grant Ranch Boulevard in Littleton, Colorado. Mike Matter and Milo Spector of Stan Johnson Company represented the California- and Colorado-based seller, which was a family partnership. The property, which was listed at $2.39 million, was purchased as part of a 1031 exchange by BAF Associates, Inc., a private investor from Maryland who was represented by Kelly Largent of Stan Johnson Company.
“The short-term lease and the fact that KinderCare was not paying rent due to the COVID-19 outbreak presented a challenge, but the location in an affluent Denver suburb made this asset attractive to a handful of buyers,” said Matter, Director in Stan Johnson Company’s Newport Beach, California office. “We were able to generate four credible offers and a 1031 buyer ended up getting the deal.”
Located just 10 miles south of Denver, Colorado, the property sits on nearly a full acre in one of the area’s more established neighborhoods. The tenant has been operating at this site since it was constructed approximately 20 years ago, and at the time of sale, had several years remaining on its triple net lease.
“The all-cash buyer was thrilled to add this asset to their portfolio,” added Largent, Associate Director in Stan Johnson Company’s Tulsa, Oklahoma office. “Despite the tenant not currently paying rent due to the COVID-19 pandemic, the outstanding location and occupancy tenure gave us confidence in the long-term success of the facility.”
