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Washington DC & Mid-Atlantic  + DC Metro  + Healthcare  |  November 1, 2021
Childtime Learning Center in Virginia Beach, VA
Lisa McDuffie
By: Lisa McDuffie

Marcus & Millichap Arranges $2M Sale of Net-Leased Childcare Facility in Virginia Beach

Marcus & Millichap has arranged the sale of Childtime Learning Center, a 42,689-square-foot net-leased childcare property located in Virginia Beach, VA. The asset sold for $1.6 million.

According to Marcus & Millichap, the center is a subsidiary of the Learning Care Group, the second-largest childcare operator in the nation. It recently signed a 10-year lease extension to remain at the property on Tiffany Lane until 2031.

Dominic Sulo, SVP, and Eric Luhrsen, senior associate, and investment specialists of the Sulo Group in Marcus & Millichap’s Chicago Oak Brook office listed the property on behalf of the seller, a North Carolina-based limited liability company. They also secured and represented the buyer, an individual/personal trust partnership. Brian Hosey, Virginia broker of record, assisted in closing the transaction.

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Marcus & Millichap

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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  • ◦Sale/Acquisition