Sherwin-Williams - Clinton, UT_Property for Sale
Sherwin-Williams - Clinton, UT_Property for Sale
2118 North 2000 West, Clinton, UT, 84015, US

Sherwin-Williams - Clinton, UT

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the single-tenant, build-to-suit Sherwin-Williams located at 2118 N. 2000 W, in Clinton, UT (the “Property” or “Asset”). Sherwin-Williams (S&P: BBB) is a global leader in the paint and coatings industry with more than 5,000 company operated stores and branches and a market capitalization of $78.7 billion. The Property is subject to a fresh 10-year primary term net lease with 10% rental increases every 5-years and 5, 5-year renewal options.


The Asset is located 30 minutes northwest of downtown Salt Lake City, home to 80% of Utah’s population. The Property sits along N 2000 W, the main north-south throughfare and major retail hub in Clinton, with direct access to over 22,000 vehicles per day and over 185,000 residents within a five-mile radius. The area is highly affluent with average household incomes over $108,000 and 22% population growth since 2010 within a five-mile radius.


Adjacent to the Asset is the #4 most visited Lowe’s and the #13 most visited Walmart in Utah, with 545K and 2M visitors annually, respectively.  The area is home to other major retailers such as Ross Dress for Less, Petco, Kohl’s, Dollar Tree, JoAnn Fabrics, McDonald’s, Wendy’s and Taco Bell, among many others.


This unique opportunity allows investors the ability to acquire an infill retail asset located in a fundamentally strong and highly affluent market. The asset offers secure, long-term cash flow backed by an investment grade tenant with global brand name recognition. 

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Attributes

Asking price
CN¥24,320,000
Cap rate
5%
NOI
CN¥1,216,000
Year built
2023
Building area gross
418 m²

Media

Investment Highlights

Investment grade (S&P: BBB), industry leading tenancy

 

Adjacent to the #4 most visited Lowe's and the #13 most visited Walmart in Utah, with 545K and 2M visitors annually, respectively

 

Brand new 10.0-year lease and 5, 5-year renewal options with 10.0% rent escalations every 5-years during the primary term and in each option period

 

Incredible demand characteristics driven by rapid 22% population growth since 2010 and more than 185K+ residents within a 5-mile radius

 

Exposure to over 22,000 vehicles per day on major throughfare in major Clinton retail hub


Sherwin-Williams - Clinton, UT 4_Property for Sale

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Sherwin-Williams - Clinton, UT (0 Properties)

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Last updated
11 Mar 2024