Bright Ideas Enrichment Center
Commercial real estate brokerage Marcus & Millichap announced this week the $2.2 million sale of Bright Ideas Enrichment Center, a 10,508-SF net-leased property on 1.09 acres at 309 Roya Lane in Bryant.
The buyer was Y-Y 1 LLC of El Dorado Hills, California, led by Theodore J. I. Keefer.
The seller was AR IC LCS LLC of Chicago, led by Erik Conrad. Craig Dunkle and Mher Vartanian of Marcus & Millichap’s Philadelphia office represented the seller. Anne Williams, a broker, assisted in the closing.
Marcus & Millichap said the rent is $16.48/SF with 1% increases each year and a five-year renewal option after 15 years, with another five-year option after the first option. That rent is about 30% below the market rate, the agency said.
Bright Ideas is a three-star facility that was established in the late 1990s, according to a news release. It is a preschool and child care center that offers extracurricular activity programs for children ages 6 weeks to 12 years, has 35 employees and serves 160-190 children throughout the year.
Sign up for Daily E-news
