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August 1, 2024
The Learning Experience: Preschool Build to Suit Development
Spring Hill, TN
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Case Studies
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Opportunity
CMK was approached by The Learning Experience, one of the largest early childhood education operators in the nation, with a build to suit development request for a new preschool facility in Middle TN.
Services Provided
- Site Selection: Conducted thorough market research across Middle TN to secure a land parcel in the rapidly growing, affluent Spring Hill community
- Due Diligence: Managed all local zoning, entitlement, design and plan approvals to ensure a smooth process for the tenant.
- Leasing: Negotiated an attractive lease structure with the tenant including rent escalations, NNN lease structure, and a 15-year term.
- Construction: Managed the year-long, ground-up development of the 10,000 square foot facility with local architects and contractors.
Results
Just 18 months after deploying capital, investors began receiving 8% annual distributions, with an expected 15-19% IRR upon sale of the property within the next 1-3 years.
