The Learning Experience (TLE) is a tenant within the niche net lease market of daycares and early learning academies. TLEs tend to be located in areas with a dense population and high average household income. TLE buildings are typically 11,000 square feet with a play yard. TLE leases are landlord friendly and require the tenant to pay insurance, real estate taxes and all utilities and the landlord is responsible for the roof and structure. The initial term of a TLE lease is 10 to 15 years with structured increases of 10-12%, every five (5) years. Commonly TLE leases will carry a limited corporate guaranty. This guarantee lasts for the first five (5) years of the lease and provides a safety net while the operator is focusing on growing enrollments and establishing TLE within the community.
The Learning Experience began its operations in 1980 in Boca Raton, Florida operating under three fundamental principles; learn, play, and grow. In July 2018, TLE was acquired by Golden Gate Capital. Today, there are over 300 TLE locations operating or under development across 22 states. TLE’s proven record of success, more than 95% of their pre-school graduates can read before kindergarten, has been a key driver for strong enrollments.