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Sagemont Upper School

Weston, Florida

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Marcus & Millichap is pleased to present the exclusive listing for the Sagemont Upper School, located in Weston, FL. The property consists of approximately 51,143 square-feet and is situated on roughly a 5.50-acre parcel. The property will be subject to a 20-year absolute triple net (NNN) lease, Corporately Guaranteed by Spring Education Group. The lease will commence upon the close of escrow. The base rent will be $930,000 and will increase by one and a half percent (1.50%) annually starting Year 2, throughout the base termand each of the four, five-year tenant renewal option periods.

About the Investment:

  • Brand New 20-Year Sale Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Corporate Guarantee from Spring Education Group
  • Attractive 1.50% Annual Rental Increases Starting in Year Two
  • Four (4) Tenant Renewal Periods of Five (5) Years Each

About the Location:

  • Affluent Surrounding Area |Average Household Income Of Over$158,500 Inside Of A Three-Mile Radius
  • Within Walking Distance to Renowned Residential Community | Savanna Commons | Over 2960 Luxury Single-Family Homes
  • Weston Identified as Master-Planned Community | Renowned for the Abundance of Premiere Single-Family Home and Apartment Complexes
  • Located Just 25 Miles Northwest the Bustling South Beach City of Miami

About the Tenant:

  • Spring Education Group (“SEG”) is the largest provider of early childhood and K-12 education in the U.S.
  • SEG operates 238 schools across 18 states + D.C. plus a growing presence in China and Thailand
  • Serves over 45,000 students across 28 brands
  • Spring Has A Proven Track Record Educating “Cradle to College” –Grades ranging from pre-K to grade 12

Key Details

Price:
$15,500,000
Cap Rate:
6.00%
Annual Rent:
$930,000
Address:
2585 Glades Circle, Weston, Florida 33327
Property Type:
Net-Leased Education Facility
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Upon Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually
Lot Size:
+/- 5.50 Acres
Building Size:
51,143 SF
Tenant:
Sagemont Upper School

Broker of record

Ryan Nee

License: BK3154667


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