CRE V Michigan

Marcus & Millichap sells KinderCare in Michigan

Marcus & Millichap sells Kindercare in Michigan,ph01

Marcus & Millichap closed the sale of KinderCare, a 9,451-square-foot net-leased property in New Hudson, Michigan. The asset sold for more than $2.83 million.

Dominic Sulo, first vice president investments, and Chad Lieber, senior associate, in Marcus & Millichap’s Chicago Oak Brook and Newport Beach offices, had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer, a limited liability company, was secured and represented by Andrean Angelov, Chad Lieber, Dominic Sulo, Ryan D. Engle and Timothy B. Stephenson Jr., investment specialists in Marcus & Millichap’s Chicago Oak Brook and Newport Beach offices.

The transaction closed with an out-of-state 1031 buyer. Steve Chaben assisted as the broker of record in Michigan.

KinderCare is located at 30786 Lyon Center Drive in New Hudson. The property is a new 2019 retrofit for KinderCare and has a brand new 15 year lease with annual increases.