Northbrook, IL – March 6, 2017 – (RealEstateRama) — The Boulder Group, a net leased investment brokerage firm, has completed the sale of a single tenant net leased Sherwin-Williams property located at 8522 US-42 in Florence, Kentucky for $1,678,426.
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Sherwin Williams is the sole occupant of the 4,000 square foot retail building that was developed in 2011. Sherwin-Williams is strategically positioned along US-42, a primary east-west thoroughfare within a dominant retail corridor. The location has curb cuts for ingress and egress on both US-42 and Old Toll Road with excellent visibility. 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’s, US Bank, Chase Bank, Play it Again Sports and UPS to name a few.
Randy Blankstein and John Feeney of The Boulder Group represented the seller in the transaction; a Midwest based private real estate investor. The purchaser was a Southeast based real estate investment company.
The Sherwin-Williams lease has approximately five years remaining with a rental increase in 2017 and three 5-year renewal option periods. 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. Sherwin Williams is an investment grade company with a Standard & Poor’s rating of A.
“The market for Sherwin Williams’s properties remains active as investors are attracted to investment grade tenanted properties” said Randy Blankstein, President of The Boulder Group. John Feeney, Vice President of The Boulder Group, added, “Short-term leases with premium tenants remain attractive to investors as they can provide higher yields.”
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 $4 billion of single tenant net lease real estate transactions. From 2011-2016, 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
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