Jardin Spanish Immersion Academy
Corporate Guaranty | NNN Lease | 9+ Yrs of Term Remaining | 2.50% Annual Rent Increases
Marketing description
Northmarq is pleased to offer the opportunity to acquire the single-tenant early childhood education asset located at 14615 Glazier Avenue in Apple Valley, MN (the “Property”). The Property comprises a recently constructed (2021) ±12,194 SF building on a 0.93-acre lot and is 100% leased to Jardin Spanish Immersion Academy. Jardin is operating under a NNN lease with 9+ years remaining, which commenced March 2021. The Lease features rare 2.50% annual rental increases and 2, 10-year renewal options (a more Landlord-friendly structure than the typical 5-year extension options). Landlord’s obligations under the Lease are limited to the structural elements of the building, all else (including the roof) is the direct responsibility of Tenant offering a hands-off investment opportunity – especially considering the recent 2021 construction. Jardin Spanish Immersion Academy is an 11-unit operator with locations throughout the Twin Cities metro area. The school was founded in 2002 and focuses on providing a well-rounded curriculum with the addition of early exposure and education in the Spanish language to shape well rounded, bi-lingual students. The lease offers both a full corporate guaranty and a personal guaranty from the CEO & founder of the Jardin Spanish Immersion Academy, plus full backing from the franchisee and excellent enrollment metrics at a unit-level (contact broker for details). This unique multi-layered guaranty plus strong unit-level performance makes this one of the most secure early childhood education assets on market today. Apple Valley is one of the Twin Cities’ most desirable suburbs, benefiting from household incomes of $132,000+ within 5 miles of the property and consistent annual population growth. Apple Valley offers direct access to major regional transportation routes including I-35E and Cedar Avenue, while its proximity to major employers, the Minneapolis-Saint Paul International Airport, and surrounding retail corridors continues to support long-term commercial demand and population stability. The Property itself is located on a dense commercial corridor with direct frontage on Cedar Avenue (51,000+ VPD).
Investment highlights
TRIPLE LEASE GUARANTY STRUCTURE - CORPORATE PLUS PERSONAL FROM CEO & FOUNDER
The lease offers a full corporate guaranty from Jardin Academy, a personal guaranty from the CEO and founder of Jardin Academy, and full backing from the local franchisee who operates the site as the Tenant. Three layers of guaranty plus excellent unit-level enrollment and a security deposit make this one of the most secure early childhood education assets on the market today.
ESTABLISHED REGIONAL BRAND WITH 24+ YEARS IN BUSINESS
Jardin Spanish Immersion Academy was founded in 2002 and has been successfully operating for 24+ years. They have grown organically throughout the Minneapolis-Saint Paul MSA during that time and now operate 11 locations.
EXCELLENT UNIT-LEVEL ENROLLMENT METRICS
Strong student enrollment at the Subject Property. Contact Broker for details.
250% GROWTH IN LANGUAGE IMMERSION ACADEMIES
There has been 250% growth in language immersion programs nationally over the past decade, with over 60% of that growth being in the “Spanish as a second language” segment.
LONG-TERM NNN LEASE WITH TENANT RESPONSIBLE FOR ROOF
9+ years of term remaining on a passive NNN lease. Landlord obligations are limited to structure only, with Tenant responsible for all else including the roof.
2.50% ANNUAL RENTAL INCREASES
Stronger rental escalation structure than nearly all other early childhood education assets on the market today.
UNIQUE, ATTRACTIVE LEASE EXTENSION STRUCTURE
Lease features 2, 10-year lease extensions versus the typical 5-year escalation structure. These longer extensions preserve long-term value for Ownership, since the lease will be reset to a full 10-year term upon a Tenant renewal.
PREMIER LOCATION IN APPLE VALLEY, MN – TOP MINNEAPOLIS SUBURB
Apple Valley, MN is one of the most desirable suburbs in the Minneapolis-Saint Paul Metro area, known for high household incomes, strong positioning within Minneapolis’ southern growth corridor, and excellent regional connectivity. 218,000+ people reside within 5 miles of the Subject Property earning an average household income of over $132,000.
DIRECT FRONTAGE ON MAIN COMMERCIAL CORRIDOR IN LOCAL MARKET
Cedar Avenue is the busiest N/S commercial corridor in the local market, with 51,000+ vehicles per day. The Subject Property offers direct frontage on Cedar Avenue with infill positioning among operators like Target, Panera, Chick-fil-A, McDonald’s, Walmart, and many more.
SURROUNDED BY DENSE, AFFLUENT RESIDENTIAL ROOFTOPS WITH GROWING POPULATION
Outside of the immediate commercial corridor, the Property is surrounded by dense, affluent rooftops – an ideal client base for the Tenant.
MINNEAPOLIS-SAINT PAUL MSA LOCATION ±15 MILES FROM DOWNTOWN
Located within the Minneapolis-Saint Paul metro area, the 16th largest MSA in the United States having shown impressive 2.71% population growth over the past 5 years. The Property is approximately 15 miles from both downtown Minneapolis & Saint Paul and is positioned within the metro’s dense southern growth corridor.
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