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INLAND EMPIRE NEWS
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Inland Empire Tutor Time Property Sells for $438/sf

10/09/18

A Los Angeles-based private investor paid $4.6 mil for a 10.5k sf ($438/sf), single-tenant Tutor Time Learning Center in Fontana. The property, located at 14273 Baseline Ave, was sold by a San Diego County-based private investor. The all-cash transaction was part of a 1031 exchange.

The well-established location is one of the top performing Tutor Time childcare centers in the Inland Empire with a successful operating history of over 15 years at this location. Tutor Time is one of the largest national daycare providers with more than 900 schools in the US, Hong Kong and Indonesia.

The Tutor Time property was built in 2003 and is directly adjacent to Heritage Village, a 110k sf neighborhood center anchored by Vons, US Bank, Fitness 19, Panda Express and Wendy’s. The childcare center caters to children six weeks to 12 years of age and offers a variety of programs for infants, toddlers, pre-school and before and after school care.

There are over 57,000 children under 12 years of age within a five-mile radius of the center. Furthermore, the center is ideally located less than 1 ˝ miles from the I-15 and I-210 freeways and near the high traffic intersection of Baseline Avenue and Cherry Avenue with traffic counts of over 47,000 cars per day.

Frank Vora, CCIM, with Progressive Real Estate Partners represented the seller in the transaction. The buyer was repped by Chris Wen of Walton Realty. Prior to the sale, Vora worked with the seller and tenant to negotiate an early five-year extension of the corporate lease resulting in almost 10 years of primary lease term and thereby adding tremendous value to the asset. The deal also included two 5-year options and annual rent increases.






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