The Learning Experience - The Shoppes at Monterra Plaza
Closed3500 N University Dr, Cooper City, FL 33024
Property type
Retail
Unit / Space count
1
Price
$5,250,000
Building size
10,000 sf
Rentable area
10,000 SF
Year built
2023
Year renovated
Occupancy
100%
APN
514104030095
Zoning code
PMUD
Lot size
0.37 Acres
Price per Unit
$5,250,000
Price per SF
$525.00
Property description
Franklin Street is pleased to present The Learning Experience in Cooper City (Broward MSA), FL. This investment offering is an opportunity to acquire a freestanding Learning Experience education center at Shoppes at Monterra Commons. The property sits on 5.3 acres of land that is managed and operated by The Shoppes at Monterra Commons. This Learning Experience child care center has a brand new 20-year lease term and will commence in Q4 of 2023. The tenant has 12% increases in their lease agreement once every five (5) years and in addition, has one (1) x 10-year renewal option. The Learning Experience Corp. chain was created in 1980 by the Weissman family, who saw an opportunity to enter a market that had not fully been exploited. The Learning Experience is headquartered in Deerfield Beach, Florida, and currently has over 460+ locations nationwide. The site has excellent exposure and frontage on N University Drive – totaling traffic counts exceeding 44,000 vehicles per day. The property borders the west side of N University Dr and south of Stirling Rd with strong demographics. This high-affluent area with an average of $99,749 household income within a 1-mile radius of the site, proves the trade area is poised for great shopping experiences, dining, and modes of entertainment. The Shoppes at Monterra Commons is surrounded by national tenants including Publix Supermarket, ALDI's supermarket, Home Depot, and Walgreens, amongst many others. Moreover, approved projects are being built directly next to the property with hundreds of multifamily units as well as newly constructed hospitals - Memorial Hospital Pembroke (486 Beds) to the south and a new NSU/HCA Teaching Hospital (200 Beds) to the north.
Property highlights
- Outstanding credit behind Double Net Lease (NN) with landlord only responsible for roof and structure
- Gross Leasable Area 10,000 SF - The property sits on 5.3 acres of land that is managed and operated by The Shoppes at Monterra Commons
- Outparcel to Shoppes of Monterra Commons with neighboring nationally credited tenants including Bright Star Credit Union Headquarters, Huey Magoos, Cali Coffee, and The Learning Experience, among others
- Lease term is for 20 years with a one (1) x 10-year option period, lease commences in Q4 of 2023
- 12% rent increases once every five (5) years including the option period
- The Learning Experience has 460+ locations nationwide and an A+ rating by the BBB
- The building borders the west side of N University Dr and south of Stirling Rd with strong demographics
- National tenants within minutes of the property include Publix Supermarket, ALDI's supermarket, Home Depot, and Walgreens, amongst many others.
- The site has excellent exposure and frontage on N University Drive – totaling traffic counts exceeding 44,000 vehicles per day