Childtime Childcare, Inc. Listing Details & Market Data

Retail rents in the Glens Falls Market were rising at a 0.9% annual rate during the fourth quarter of 2022, and have posted an average annual gain of 1.3% over the past three years. In addition to 35,000 SF that has delivered over the past three years (a cumulative inventory expansion of 0.3%), there is 3,500 SF currently underway, representing a fractional expansion of the existing inventory. Vacancies in the metro were a bit above the 10-year average as of 2022Q4, and trended upward over the past four quarters. Nonfarm payrolls were recently increasing at an annual rate of 4.2%, a gain of about 2,100 jobs, and the metro's strongest rate of job creation in over a year.This Childtime property sale includes the Real Estate and attached fixtures, the facility has a licensed capacity of 131 students per the State of New York. It is leased to the nations second largest child care provider The Learning Care Group and is 4.5 years into a 15 year initial term. The tenant has 2 - 5 yr options to renew with annual rent escalations of 1.75%. This Childtime childcare facility is located on 3.92 acres of beautiful landscaped land with ample parking. The property was built in 2001 and fully renovated in 2020 up to current building codes including a sprinkler system and brand new playground equipment.