Featured Listing
Prestige Preschool Academy
16427 Sierra Lakes Parkway
Fontana, CA 92336
$6,400,000
The subject property is a single tenant Prestige Preschool Academy in Fontana, California. Prestige is a leading childcare operator expanding throughout the country. Fontana is a city of 207,000 residents in San Bernardino County. The Property consists of a ± 10,700 sf building with ± 14,250 sf outdoor play area on ± 1.23 acres of land at 16401 Sierra Lakes Parkway. Prestige has selected this excellent location in Fontana, a city experiencing significant residential growth to compliment its many nearby employers. Prestige Preschool is being constructed between Ralph’s Supermarket, Walgreens Drugstore, LA Fitness to the west and Costco Wholesale and Lowe’s Home Improvement to the east. To the north is the Sierra Lakes neighborhood and golf club. Nearby traffic generators include Home Depot, America’s Tire, Autozone, JoAnn Fabrics, Petco, Chase Bank, Wells Fargo Bank, Urgent Care @ Sierra, Verizon, Applebee’s, Carl’s Jr., Chipotle, El Pollo Loco, Farmer Boy’s, Omokase Sushi, Panda Express, Popeye’s, Starbucks and Taco Bell. Across the busy I-210 freeway are several new car dealerships including Chevrolet, Honda, Nissan, The growing demand for childcare here ensures another successful Prestige Preschool Academy location.
Tenant Information: PPG Paints
Prestige Preschools Operations, LLC (previously GFGTT Holdings, Inc.) is an operator of Prestige Preschools Academy childcare learning centers. Prestige currently operates 12 preschools in California, Colorado and Minnesota, with several additional sites in various stages of development. Prestige began operations in 2006. Prestige is the successor company to another childcare company which operated 17 Tutor Time centers and was acquired by the Learning Care Group, Inc. - owner of Tutor Time, Childtime and La Petite Academy brands. On July 28, 2006 GFGTT Holdings, Inc. sold the operations at 17 of its preschools back to the franchisor, the Learning Care Group, Inc. (LCGI). Prior to this sale, GFGTT was the 2nd largest provider of childcare in the 2nd largest market in the US. Trailing 12 month figures show revenues in excess of $21 million. The terms of the sale provided that GFGTT (through its successor company Prestige Prestige Preschools, Inc.) would continue to develop Tutor Time centers. On January 10th, 2006, Learning Care Group, Inc. was acquired by A.B.C. Learning Centres Limited. Most recently, the company was taken private with Morgan Stanley Private Equity purchasing a 60 percent stake on June 25, 2008.
The 4 primary individuals in the Prestige management team have been together for 12 years and bring a combined 60 years of industry experience. The US childcare industry is a fragmented $61 billion industry. This team is poised to capitalize on the huge growth potential in several targeted markets. Each center is designed to foster a learning atmosphere ideal for early childhood education. After much due diligence, Prestige has focussed on expansion in the greater Denver market with its good young suburban population with professionals working in the petroleum, finance, health are and high tech industries. Since the LCGI acquisition in 2006, Prestige has opened two additional Southern California centers, one in Claremont and another in Chino Hills. Breakeven occurred within 16 months of opening, which is consistent with previous centers and less than the industry average of 18 months.
