756 Route 206 in Hillsborough — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has purchased the site of a nearly 10,000-square-foot child care center in Somerset County, under a newly announced transaction by Marcus & Millichap.
The buyer, whose name was not disclosed, paid $3.805 million for the property at 756 Route 206 in Hillsborough. Brokers noted that KinderCare occupies the 9,832-square-foot building on a net-leased basis, creating additional interest among would-be investors.
Marcus & Millichap’s Alan Cafiero, Brent Hyldahl and Ben Sgambati represented both parties in the deal.
“Net-leased assets with national, credit tenants and long-term leases are one of the most sought-after products in the market today,” Cafiero said. “KinderCare signed a corporately backed lease at this location and had over 12 years of firm lease term remaining, generating multiple offers on this asset.”