B+E brokers sell Memphis area The Learning Experience property for $5M
B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of The Learning Experience (TLE) property located at 780 East Winchester Boulevard in Collierville, TN for $5,000,000.
The double-net (NN) property finished construction in spring of 2021 and features a new 15-year lease.
“We generated multiple offers on this property, which allowed the seller to be selective and ultimately secure a very competitive cap rate and 98% of ask price from a California buyer in a 1031 exchange,” said B+E brokers Jim Ceresnak and Sam Wilson. “Cap rates for The Learning Experience have continued to trend lower as both investors and lenders better understand TLE’s lease and operating model.”
B+E currently has a brand new Nashville area TLE on the market with additional similar assets in the pipeline.
For more information, contact Jim Ceresnak at jceresnak@tradenetlease.com