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Views: 74 DOM: 217 Updated: 05.03.24 Posted: 10.13.23 Status: Active

Summary

Price $2,278,017
Built/Renov 2023
Tenant Sherwin-Williams
Cap Rate 5.80%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 3,500
Lease Start 04-24-2023
#Units 4,859
Price/SF $650.86
Expiration 04-23-2033
Tenant Type General Retail
NOI $132,125
R. Term 8.11
Ownership Fee Simple
Rent/SF $37.75
Increases 10.0%/5/yrs
Pop 5Mi 196,494
Lot/AC 0.47
Options 3/5yrs/10%
AHHI 5Mi $103,924

Lease Highlights

  • Brand new 2023 construction
  • Sherwin Williams recently signed a new 10-year lease with 3 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Corporate guarantee by Sherwin-Williams Company (NYSE: SHW)

Location Description

The 3,500 square-foot Sherwin Williams benefits from its position along Plainfield Road which experiences over 33,100 vehicles per day. The subject property is located as an outparcel within Joliet Commons which is anchored by retailers such as Target, Ross, PetSmart, JOANN, Five Below, Ulta Beauty, Chick-Fil-A, and McDonald’s. The asset is within proximity to Interstate 55 (87,000 VPD) which...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Sherwin-Williams
  • Guarantor:Corp T and Rated
  • Company:Sherwin-Williams Company
  • # Units:4,859
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: SHW

About Tenant

The Sherwin-Williams Company is an American Fortune 500 company in the general building materials industry. Founded by Henry Sherwin and Edward Williams in 1866, the company operates through four...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,477 68,896 196,933
2023 Total Population : 7,669 69,940 197,775
2023 Employed Civilian Pop : 4,206 36,945 101,886
2023 Total Businesses : 369 1,902 5,211
2023 Average Household Income : $ 101,795 $ 99,245 $ 103,565
2023 Total Consumer Spending : $ 232 M $ 2224 M $ 6231 M
2023 Median Age : 39 38 37
2023 Total Households : 2,668 26,092 70,021
2023 Pop Age 25+: Bachelor's Degree : 919 9,557 26,384
2023 Average Home Value : $ 253,020 $ 278,714 $ 275,185
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Plainfield Road 2019 18,400 0.09 mi
US 30 2021 22,300 0.25 mi
Ring Rd Voyager Ln 2012 22,800 0.29 mi
Plainfield Rd Tonti Dr 2013 12,900 0.38 mi
W 16th St Pinecrest Dr 2012 7,750 0.39 mi
16th St Caroline Dr 2008 5,600 0.43 mi
Essington Rd N Essington Rd 2012 7,750 0.46 mi
N Essington Rd Essington Rd 2008 5,600 0.48 mi
US 30 S Lincoln Hwy 2021 33,100 0.61 mi
Gaylord Road Blossom St 2022 4,900 0.69 mi

Listing Broker

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