KLNB, the region’s leading multi-service commercial real estate brokerage firm announced the sale of a KinderCare daycare center located at 18000 Sioux Lane in Gaithersburg, Maryland. The property sold in December 2020 for $2,577,777. David Weber, Senior Vice President, and Ken Tamres, Vice President, of KLNB’s Investment Sales team along with Dimitri Georgelakos, Principal at KLNB, represented the owner/seller in the sale as well as procured the buyer.
David Weber elaborated on the importance of utilizing teamwork to ensure the best results for the client. “The full-service collaboration between KLNB’s leasing and sales divisions enabled our team to execute a 10-year lease extension on behalf of the seller, in order to command premium pricing and maximize net proceeds for our client. The buyer also benefited from a property with a new longer, term lease that aided them in procuring more attractive financing.”
The property itself was one of the 400 KinderCare’s out of 1,300 locations to remain open throughout the pandemic to provide daycare services to essential personnel. The building is just over 6,500 square feet, on a two-acre parcel, and well located on the corner of Quince Orchard Road and Sioux Lane which is surrounded by single family homes and AstraZeneca’s Gaithersburg Global R&D Campus. It is also conveniently only a block away from the Kentlands Market Square Town Center and Shops, an open-air town center with over 650,000 square-feet of retail and commercial space and home to thousands of residents.
The surrounding area demographics are exceptional for KinderCare with a population of over 136,000 people, a labor force of over 72,000 employees and an average household income of over $127,000.
For more information regarding KLNB’s leasing and sales services visit: https://klnb.com/services/overview/
About KLNB
KLNB is a leading provider of commercial real estate services throughout the mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, investment sales, property management, research, marketing, branding and financing services. More than 85 full-time brokerage professionals work across KLNB’s four offices strategically located throughout the
Washington, D.C. / Baltimore region. KLNB is affiliated with NAI Global – the single largest, most powerful global network of owner-operated commercial real estate brokerage firms in the world. http://klnb.com.
