The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net lease Sherwin-Williams property located at 8522 US-42 in Florence, Kentucky for $1,678,426.<\/p>\n
Sherwin Williams is the sole occupant of the 4,000 square foot retail building that was developed in 2011.\u00a0 Sherwin-Williams is strategically positioned along US-42, a primary east-west thoroughfare within a dominant retail corridor.\u00a0 The location has curb cuts for ingress and egress on both US-42 and Old Toll Road with excellent visibility.\u00a0 The property is located in one of the fastest growing counties in the Cincinnati MSA. Retailers located in the immediate area include CVS Pharmacy, AutoZone, Ace Hardware, McDonald\u2019s, US Bank, Chase Bank, Play it Again Sports and UPS to name a few.<\/p>\n
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Midwest based private real estate investor.\u00a0 The purchaser was a Southeast based real estate investment company.<\/p>\n
The Sherwin-Williams lease has approximately five years remaining with a rental increase in 2017 and three 5-year renewal option periods.\u00a0 The Sherwin-Williams Company is an American Fortune 500 company in the general building materials industry. The company primarily engages in the manufacture, distribution, and sale of paints, coatings and related products.\u00a0 Sherwin-Williams is an investment grade company with a Standard & Poor\u2019s rating of A.<\/p>\n
\u201cThe market for net lease Sherwin-Williams\u2019s properties remains active as investors are attracted to investment grade tenanted properties\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 John Feeney, Vice President of The Boulder Group, added, \u201cShort-term leases with premium tenants remain attractive to investors as they can provide higher yields.\u201d<\/p>\n