Marcus & Millichap recently sold the Apple Montessori Preschool and Daycare in Hillsborough Township for $3,571,000.
Alan Cafiero and Brent Hyldahl, investment specialists in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller, Rock Point Ventures LLC.
“Long-term triple-net leases are still in great demand from the investment community, given the durability of the income and ease of management,” Cafiero said. “This property was no different, as the tenant had a new 15-year lease with contractual rent increases.”
The preschool and daycare center, occupying a 3.14-acre parcel, is situated on 302 S. Branch Road, near Routes 202 and 206, and Interstate 287. The property is comprised of three buildings for various age groups. Apple Montessori, in operation for over 50 years, has 18 locations across New Jersey.
