The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant net leased Sherwin-Williams property located at 203 North Vine Street in Urbana, Illinois for approximately $1,720,000.
The 6,000 square foot property is located along North Vine Street (19,100 VPD). Tenants in the area include Save A Lot, Starbucks, Walgreens, Chase Bank, Domino’s Pizza, Dunkin’, Culver’s, and more. More than 135,000 people live within five miles of the property who earn an average annual income of $64,461. The Sherwin-Williams is less than five minutes from the University of Illinois (52,000+ Students).
Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction who was a Midwest based developer. The buyer was a west coast based real estate fund.
The Sherwin-Williams lease features more than 10 years remaining on the primary lease term with a 5% rental escalation in year 6. The Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paints, coatings, and related products. The company manufactures products under well-known brands such as Sherwin-Williams, Valspar, HGTV HOME by Sherwin-Williams, Dutch Boy, Krylon, Minwax, Thompson’s Water Seal, Cabot, and more.
“Net leased assets to e-commerce resistant tenants like Sherwin-Williams continue to garner significant investor interest” said Jimmy Goodman, Partner of The Boulder Group. John Feeney, Senior Vice President of The Boulder Group of The Boulder Group, added, “Properties with leases to investment grade rated tenants remain as the gold standard in the net lease sector. Sherwin-Williams is BBB rated by Standard & Poor’s.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $6 billion of single tenant net lease real estate transactions. From 2012-2020, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago. www.bouldergroup.com
Company Name: The Boulder Group
Contact Person: Randy Blankstein
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Address:3520 Lake Avenue Suite 203
Country: United States