NNN Lease – 15 years
Initial Term Average Yield Over 6.50%
This TIC property is a brand new construction in the beautiful Puget Sound area of Washington. It’s long-term net lease provides exchangors with a maintenance-free monthly income. The largest for-profit early education provider in the US, the company operates more than 1,300 KinderCare early child care centers across the nation. It also offers before- and after-school care at more than 470 elementary schools through its Champions division. Additionally, KinderCare operates KinderCare Education at Work, which manages on-site or adjacent child care centers for more than 400 corporations, universities, and other entities. KinderCare is owned by investment firm Partners Group.
The City of Puyallup is situated at the foot of Mount Rainier in the beautiful Puget Sound region, 10 miles east of Tacoma and is part of the Seattle-Tacoma Metropolitan Area. Approximately 4 million residents live and work in the area, which boasts one of the strongest economies in the nation driven by factors like strong gross domestic product growth, exports per capita, and percentage of high-tech jobs. Several Fortune 500 companies are headquartered there including such powerhouse corporations as Microsoft, Amazon, Costco, Nordstrom and Starbucks. The metro area was named by Forbes as one of America’s fastest growing cities, best places to start a business, and best place for business and careers. The Mariners of MLB and the Seahawks of the NFL call the area home.