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A triple-net-lease day care property in Somerset County recently sold for $3.57 million.

Commercial real estate brokerage Marcus & Millichap announced the sale of Apple Montessori Preschool and Daycare located at 302 S. Branch Road in Hillsborough Dec. 26.

New Jersey-based Senior Managing Director of Investments Alan Cafiero and First Vice President, Investments Brent Hyldahl had the exclusive listing to market the property on behalf of the seller, Rock Point Ventures LLC.

The freestanding preschool and day care center is situated on a 3.14-acre parcel located near Routes 202, 206 and Interstate 287. The property comprises three buildings, each serving various age groups, according to Marcus & Millichap.

“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 commented. “This property was no different, as the tenant had a new 15-year lease with contractual rent increases.”

Apple Montessori has been in business for more than 50 years with 18 locations across New Jersey. Earlier this month, the child care provider was recognized as a 2023 Business of the Year finalist by NJBIZ.

The Hillsborough site, which opened last month, is the latest for Apple Montessori and the second to open in New Jersey this year after an East Windsor location debuted in August.

According to Apple Montessori, the Hillsborough campus’s three buildings are newly renovated and energy efficient. Infant and toddler classrooms feature radiant heat flooring as well as fresh air ventilation systems. The location is also slated to include a saltwater swimming pool, designed for young children; certified Outdoor Classrooms; trike path; gardening beds and more. The facility serves children 6 weeks old through 6 years.