The Learning Experience New Construction 21-Year NNN Lease in Strongsville, OH (Cleveland MSA)
2025-Built; Rent Commencement of March 31, 2025
10% Rent Increases Every 5 Years of Initial Term & Options Add 237 bps to CAP Rate by End of Initial Term; 9.5% CAP in 2040
Tenant Pays TAX/INS, also Pays Fixed CAM of $67,500 ($6.75/SF) in Yr-1 with 5% Annual Increases
CAM Not Subject to Reconciliation; Likely a Profit Center to Further Increase NOI/CAP
Oversized 4.55 Acre Parcel | +/- 1.9 Acres of Undeveloped Land Included as Upside to Lease/Sell/Develop
0.3-Mile South of Progress Business Park (1.9 Million SF of Industrial Leased to 99.5% Occupancy; Major Employment Hub)
Carries Typical TLE Limited Corporate Guaranty with $850K Limit Over First 5 Lease Years, Decreasing by 20% Per Year
Dense & Affluent Demographics: AHHI of $98-108K in 1/3/5-Mi Radii; 49,028/3-Mi & 134,900/5-Mi Population Counts
Within Immediate Proximity to Numerous Kid & Family-Centric Destinations, Providing Additional Synergy & Convenience for Busy Parents
Directly Adjacent to and Across from Shopping Centers with Goldfish Swim School, Tutu School, and The Little Gym, and Musicologie (Coming Soon)
0.1-Mile North of Sts. Joseph & John Catholic Elementary School and 0.3-Mile North of Strongsville Middle School
0.4-Mile North of Entrance Drive to City of Strongsville Community Amenities Including Rec Center & Indoor Pools, New Outdoor Playground Complex, Adventure Playground, Sports Fields, Public Library, Safety Town, and More
1.3 Miles Northeast of Muraski Elementary School (Strongsville Public Schools)
Class “A” Quality Prototypical 10,000 SF Building on 4.5484-Acre Lot with 5,000 SF Outdoor Playground, and 41 Parking Spaces, and 180 Full-Time Enrollment Capacity
Neighbored by Route 82 Retail Corridor (Regional Draw and Major Employment Hub with 2.8 Million SF of Retail Leased to 99% Occupancy – Notables Anchors include Costco & Target); and Located on Pearl Road Commercial Corridor (Walmart, Home Depot, Lowe’s, MetroHealth Family Health Center, Aldi, and More)
Family-Oriented Community Catering to Young/New Families – 74% of Households in 5-Mi Radius are Owner Occupied (Non-Renters), Average Family Size of 2.3 and Affordable Median Home Value of $220K
TLE Has 600+ Locations Open and Under Development throughout 22+ States; In Business Since 2001 with Double-Digit Growth the Past 15 Years
TLE is Owned by Golden Gate Capital (Red Lobster (sold), Bob Evans, Mavis Discount Tire) – $15 Billion Private Equity Firm Widely Considered to be One of the Best in the Business with 300+ Successful Acquisitions
Strongsville = Cleveland’s Largest West-Side Suburb with a Population of 45,000; Easy Highway Access, Millions of SF of Retail & Industrial Properties Employing Thousands, and Excellent Schools & Community Amenities
Cleveland MSA – Home to a Population of Over 2 Million and Part of the Larger Cleveland-Akron-Canton CSA with a Population of 3.5 Million