Marcus & Millichap Brokers the Sale of La Petite Academy, a 6,771-SF Net-Leased Property in Orlando, Florida

ORLANDO, Fla., July 3, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of La Petite Academy, a 6,771-square-foot net-leased property located in Orlando, Florida. The asset sold for $1,360,000.

“We were pleased to get this property across the finish line and get it sold on behalf of the seller,” says Spencer Berkley, an investment specialist in Marcus & Millichap’s Phoenix office. “Given the location and the lower rent, we had multiple all-cash offers within the first few weeks of marketing and the transaction could not have moved smoother.” Berkley, Mark Ruble, Chris Lind, and Zack House, investment specialists in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also procured by Berkley, Ruble, Lind, and House. Ryan Nee, Florida broker of record, assisted in closing this transaction that included an absolute triple-net (NNN) lease with a two percent annual rent increase and two, five-year renewal options.

Centrally located only 15 minutes from Downtown Orlando, La Petite Academy is situated at 2650 Pembrook Drive in Orlando, Florida. This property has a corporate guaranty by Learning Care Group, who is one of the largest providers of early childhood care in the United States. The tenant has shown long-term commitment to the site by operating for 35 years. The average-household income exceeds over $83,000 within five miles of the site and the daytime population for the dense Orlando trade area exceeds 351,000 within a five-mile radius.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.