Carrington Academy NEW CONSTRUCTION BUILD-TO-SUIT IN 2018 - 2409 HANCOCK DRIVE BRASELTON, GA 30519 - LoopNet
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NEW CONSTRUCTION BUILD-TO-SUIT IN 2018
Carrington
Academy
2409 HANCOCK DRIVE • BRASELTON, GA 30519
OFFERING MEMORANDUM
CONFIDENTIALITY AND DISCLAIMER
Presented by
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be re-
viewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity Dominic Sulo
First Vice President Investments
without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
CHICAGO OAKBROOK
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The infor-
Tel: (630) 570-2171
mation contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any Fax: (630) 570-2210
investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the DSulo@marcusmillichap.com
future projected financial performance of the property, the size and square footage of the property and improvements, the License: IL 475.134920
presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s
plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has
been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of
the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes
no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential
buyers must take appropriate measures to verify all of the information set forth herein.
NON-ENDORSEMENT NOTICE
Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is not affiliated with, sponsored by, or endorsed by any com-
mercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended
to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any
agent, product, service, or commercial listing of M&M, and is solely included for the purpose of providing tenant lessee informa-
tion about this listing to prospective customers.
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this mar-
keting package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or spon-
sorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service,
or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about
this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Broker of Record:
Michael J. Fasano
Regional Manager, Atlanta
License: 352663
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information.
2 CARRINGTON ACADEMY • BRASELTON, GA References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap
Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. Activity ID: ZAA0670025
Subject Property
THE OFFERING
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Carrington
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Academy
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2409 HANCOCK DRIVE • BRASELTON, GA 30519 liams
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FINANCIAL SUMMARY
OFFERING TERMS Building Sq Ft 11,500 Sq Ft
nd
sh
Frie
Year Built 2018
Lot Size +/- 1.20 Acres Friendship Rd d
Mill R
PRICE Thom
pson
$4,543,000 LEASE SUMMARY
Lease Type Triple Net
ill Rd
CAP Thomp
son M
d
Nobel Learning
hR
Tenant
6.85%
Communities, Inc.
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Guarantor Corporate
C
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Roof and Structure Tenant Responsible
Sa
NET OPERATING INCOME Primary Term 15 Years
$311,176
Rent Commencement Date 7/13/2018
d
Flow
Lease Expiration Date 6/30/2034 rin gR
t Sp
ery
u
Term Remaining 15 Years Spo
Bran
Do
Rental Increases Yes c H
ch R
ug INTERSTATE
Renewal Options Three, Five-Year he
sR
85
d
d
Bra
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ton
Hw
y
4 CARRINGTON ACADEMY • BRASELTON, GA
LEASE SUMMARY
LEASE TERM PAYMENT DATES MINIMUM RENT
GLA LEASE YEAR % CHANGE CAP RATE OPTIONS
START END START END ANNUAL MONTHLY PSF
11,500 7/13/2018 6/30/2034 1 7/13/2018 7/12/2019 $311,176 $25,931 $27.06 6.85% Three, Five-Year
2 7/13/2019 7/12/2020 CPI TBD TBD
3 7/13/2020 7/12/2021 CPI TBD TBD
4 7/13/2021 7/12/2022 CPI TBD TBD
5 7/13/2022 7/12/2023 CPI TBD TBD
6 7/13/2023 7/12/2024 CPI TBD TBD
7 7/13/2024 7/12/2025 CPI TBD TBD
8 7/13/2025 7/12/2026 CPI TBD TBD
9 7/13/2026 7/12/2027 CPI TBD TBD
10 7/13/2027 7/12/2028 CPI TBD TBD
11 7/13/2028 7/12/2029 CPI TBD TBD
12 7/13/2029 7/12/2030 CPI TBD TBD
13 7/13/2030 7/12/2031 CPI TBD TBD
14 7/13/2031 7/12/2032 CPI TBD TBD
15 7/13/2032 7/12/2033 CPI TBD TBD
16 7/13/2033 6/30/2034 CPI TBD TBD
17-21 7/1/2034 6/30/2039 CPI TBD TBD Option 1
22-26 7/1/2039 6/30/2044 CPI TBD TBD Option 2
27-31 7/1/2044 6/30/2049 CPI TBD TBD Option 3
Lease Comments: Annual Increases in Option Periods
5 CARRINGTON ACADEMY • BRASELTON, GA
INVESTMENT HIGHLIGHTS
New Construction New 15-Year Corporate Annual Increases in
Build-to-Suit in 2018 NNN Lease Base Term and Options
E-Commerce Busy Retail Corridor with Rapid Population Growth
Resistant Tenant National Retailers and Development
6 CARRINGTON ACADEMY • BRASELTON, GA
TENANT OVERVIEW
Carrington Academy
We are part of Nobel Learning Communities, a network of more than 200 private schools in 19 states and the District of Colum-
bia, with a commitment to outstanding preschools and K-12 schools. Nobel Learning Communities also operates Laurel Springs
School, an accredited private online school, offering challenging programs for students in kindergarten through 12th grade.
200+ 19
Our schools around the country are all supported by the Nobel Learning Communities Education Department, a team of high-
ly-skilled experts in curriculum design, instruction and assessment. While we provide excellent centralized curriculum support and
training, we are first and foremost a group of local schools devoted to the needs of our families.
Nobel Learning Communities
LOCATIONS STATES
Our mission is to provide the highest caliber of support for our national network of private preschool through 12th grade schools
to enable them to focus on the needs of individual students, families and local communities. By leveraging the strength of our
$332.31 Mil
4,700
national network, we strive to deliver excellent value for private school tuition. We provide research-based and standards-based
curricula, professional development, and tools and technology that enable our teachers to help each student achieve their full
potential. We foster collaboration and communication among our parents, teachers, school administration and central support Total
staff in order to constantly improve student outcomes.
Revenue Employees
Preschools
Nobel Learning Communities preschools provide the developmentally appropriate balance of learning and play to prepare
children for kindergarten and beyond. Our skilled, dedicated teachers and staff create a safe, nurturing environment. Our cur-
riculum creates a strong educational foundation and helps build social skills, community awareness and self-confidence. We Year Founded Headquarters
1984 Westchester, PA
link parents to their child’s classroom experiences through ongoing communications and suggestions for ways to continue the
learning at home.
K-12 Schools
Our private elementary, middle and high schools are dedicated to providing challenging academics, personalized attention for
each student, and strong partnerships among parents, teachers, students and staff. We combine a rigorous, standards-based
WEBSITE:
curriculum with personalized assessments and learning plans to help each student reach their maximum potential. Highly qual- www.nobellearning.com
ified and dedicated teachers and staff engage every child, and create a learning community that values character, respect
and service to others.
https://www.nobellearning.com/
7 CARRINGTON ACADEMY • BRASELTON, GA
TENANT OVERVIEW INVESTCORP ANNOUNCES SALE OF NOBEL LEARNING COMMUNITIES Investcorp, a leading global provider and manager of alternative investments, today announced it has completed the sale of Nobel Learning Communities, one of the leading providers of private education in the United States (from pre-school up to high school), to Spring Education Group, the leading PreK-12 private school operator in the United States and portfolio company of Primavera Capital Group, a leading Asia-based investment firm. The terms of the transaction were not disclosed. Founded in 1984, Nobel Learning operates a network of over 190 private schools across 19 states in the United States. Nobel Learning schools are known nationwide for their commitment to quality private education through small class sizes, qualified teachers, and personalized learning plans. The company also has an accredited online private school, Laurel Springs, that offers college preparatory programs to students from over 80 countries worldwide. With over 25,000 students, Nobel Learning is one of the largest private school operators in North America. Since acquiring Nobel Learning in 2015, Investcorp has worked closely with the company to achieve significant growth, acquiring 25 schools, opening 9 greenfields, and driving organic enroll- ment thereby collectively achieving EBITDA growth of over 50 percent during its period of ownership. George Bernstein CEO of Nobel Learning Communities said, “One of the critical factors in our success has been the wonderful relationship that our management team had with Investcorp and the strong board they built. The Investcorp team was always supportive and yet challenged us to improve our strategy and measurements in a way that helped generate increased value. Investcorp took the time to understand our business, schools and culture and became a true partner to our management team.” https://www.prnewswire.com/news-releases/investcorp-announces-sale-of-nobel-learning-communities-300689740.html 8 CARRINGTON ACADEMY • BRASELTON, GA
LOCATION OVERVIEW
BRASELTON, GEORGIA
There are many treasures to discover in our historic downtown and new ones await as the town is currently
undergoing a redevelopment plan designed to revitalize our existing downtown. Many of the town’s historic
buildings have been renovated in keeping with the charm and small town feel Braselton has been known for
since the Braselton brothers first opened a store over 100 years ago. Visitors can enjoy year-round activities
in downtown from family friendly movies, to outdoor concerts, antique and art festivals, and other holiday
and special events.
The town of Braselton has a rich heritage and the unique characteristic of being located four counties: Bar-
row, Gwinnett, Hall and Jackson. Our dynamic community is the home to the world-class amenity Chateau
Elan Winery & Resort. The resort attracts more than a million visitors a year and the adjoining communities
have thrived. Add to this the excellent business location on the Interstate 85 business corridor and you have
a premier live, work, and play community that boasts an excellent quality of life. Fort Yargo State Park offers
swimming, fishing, boating, biking and hiking, disc golf, and camping. The park is also home to a 1792 log
fort that was built by settlers.
Chateau Elan Winery & Resort Historic Braselton Downtown Fort Yargo State Park
9 CARRINGTON ACADEMY • BRASELTON, GA
AREA MAP
43.2 MILES
NORTHEAST OF
ATLANTA, GA
51.0 MILES
HARTSFIELD-JACKSON ATLANTA
INTERNATIONL AIRPORT
Atlanta, GA 29.7 MILES
TANGER OUTLETS
COMMERCE
39.0 MILES
UNIVERSITY OF
GEORGIA
10 CARRINGTON ACADEMY • BRASELTON, GAPROPERTY PHOTOS 11 CARRINGTON ACADEMY • BRASELTON, GA
AERIAL - NORTHEAST
Spout Springs Rd
8,270 CPD
Friendship Rd
6,790 CPD
Subject
Property
12 CARRINGTON ACADEMY • BRASELTON, GAAERIAL - EAST
Spout Springs Rd
8,270 CPD
Friendship Rd
6,790 CPD
Subject
Property
13 CARRINGTON ACADEMY • BRASELTON, GAAERIAL
Spout Springs Rd N
8,270 CPD Five-Mile Radius
As of 2016
23,927 - Households
Northeast Georgia
Medical Center
Friendship Rd
6,790 CPD
Subject
Property
4.2 MILES SOUTH
MILL CREEK
HIGH SCHOOL
3,998 Students
FRANK N. OSBORNE
MIDDLE SCHOOL
1,657 Students
DUNCAN CREEK
MIDDLE SCHOOL
1,129 Students
14 CARRINGTON ACADEMY • BRASELTON, GASITE PLAN
Friendship Rd
Hancock
N
SITE PLAN KEY
Parcel Outline:
Dr
Land Area: +/- 1.20 Acres
Leasable Area: 11,500 Sq Ft
6,790 Daily
Ingress/Egress:
Fence:
15 CARRINGTON ACADEMY • BRASELTON, GADEMOGRAPHICS
2016 Population
POPULATION 1-MILE 3-MILE 5-MILE
2010 Population 2,735 25,708 63,947
1-MILE 3-MILE 5-MILE
2016 Population 3,091 30,416 74,592
3,091 30,416 74,592
2021 Population 3,966 36,941 89,382
2016 Households
HOUSEHOLDS 1-MILE 3-MILE 5-MILE
2010 Households 856 8,042 20,495
1-MILE 3-MILE 5-MILE
2016 Households 981 9,622 23,927
981 9,622 23,927
2021 Households 1,294 11,975 29,184
Average Household Income
INCOME 1-MILE 3-MILE 5-MILE
Median Household Income $78,570 $78,069 $76,537
1-MILE 3-MILE 5-MILE
Per Capita Income $34,168 $33,855 $32,688
$104,177 $105,502 $101,282 Average Household Income $104,177 $105,502 $101,282
16 CARRINGTON ACADEMY • BRASELTON, GAYou can also read
