Newmark Arranges Sale of Metro Raleigh Retail Property Net Leased to KinderCare

by John Nelson

GARNER, N.C. — Newmark has arranged the sale of an 11,400-square-foot retail property located at 932 Heather Park Drive in Garner, approximately seven miles south of Raleigh. The property is triple-net-leased to KinderCare, an early childhood education and childcare provider with 1,500 learning centers nationwide. KinderCare has 12 years remaining on its lease term, which features four five-year extension options. Matt Berres, Samer Khalil, Karick Brown and Bert Sanders of Newmark represented the seller, an undisclosed public REIT, in the transaction. Clark Everitt of Investment Real Estate Associates (IREA) represented the private buyer, which purchased the facility for an undisclosed price.

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