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CONFIDENTIALITY DISCLAIMER

This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

MAJ COMMERCIAL REAL ESTATE

MAJ Commercial Real Estate is excited to present the opportunity to acquire a single-tenant NNN lease investment located at 9920 NE 117th Ave, Vancouver, WA 98662. This premium property was built specifically for Sherwin-Williams, with the lease commencing on February 22, 2021. The Sherwin-Williams store is part of the MAJ Place BP center, which also features a 7-Eleven with Fuel and a Starbucks Drive-Thru, creating a high-traffic retail environment.

The property benefits from strong traffic exposure, with approximately 70,690 Vehicles Per Day at the intersection of NE 117th Ave and NE 99th Street. Additionally, the lease includes a 10% rent increase in February 2026, providing future income growth for investors. This well-positioned investment offers stability with a high-quality tenant in a thriving retail corridor.

LEASE SUMMARY

LEASE GUARANTOR:

Sherwin Williams Corporate

NUMBER OF LOCATIONS: 4,694 stores (2023)

HEADQUARTERS: Cleveland, OH

REVENUE 2023: $23.05 billion

WEBSITE: wwww.sherwin-williams.com

PROPERTY ADDRESS:

9920 NE 117th Ave, Vancouver, WA 98662

GUARANTOR:

Sherwin Williams Corporate

COMMENCEMENT DATE: February 22, 2021

INITIAL TERM EXPIRATION DATE: February 28, 2031

EXTENDED TERMS: Three, 5-Year Options

LEASE TYPE: NNN

LANDLORD RESPONSIBLE: Roof and Structure

MANAGEMENT FEE: $250.00 Per Month

Sherwin-Williams Company is an American company based in Cleveland, Ohio. It is primarily engaged in the manufacture, distribution, and sale of paints, coatings, floorcoverings, and related products to professional, industrial, commercial, and retail customers, primarily in North and South America and Europe. At the end of 2020, Sherwin-Williams had operations in over 120 countries.

Founded by Henry Sherwin and Edward Williams in Cleveland in 1866, the company operates through three segments: The Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.

ADDRESS:

9920 NE 117th Ave, Vancouver, WA 98662

TENANT: Sherwin Williams

LEASE TYPE: NNN YEAR BUILT: 2021

RENT COMMENCEMENT: February 22, 2021

BUILDING SIZE: +/- 3,800 SF

LAND SIZE:

0.25 Acres

INVESTMENT HIGHLIGHTS

10% Base Rent Increase in February 2026

Lease is Guaranteed by Sherwin Williams Corporate

Sherwin Williams shares a site with 7-Eleven and Starbucks, which draw significant foot and vehicle traffic to the Center

The Site benefits from two Monument Signs, on SR -500 and NE 99th St.

Why Sherwin-Williams (SHW) is a Top

Growth Stock for the Long-Term

09/17/2024

Sherwin-Williams is one of the biggest paint companies in the United States and in the world. Its well-known brands include Dutch Boy, Minwax and Krylon. The company, on Jun 1, 2017, completed the purchase of rival paints maker Valspar in an all-cash transaction, creating a premier global paints and coatings company.

SHW boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 10.8% year-over-year for 2024, while Wall Street anticipates its top line to improve by 0.9%.

Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.06 to $11.47 per share. SHW also boasts an average earnings surprise of 4.5%.

On a historic basis, Sherwin-Williams has generated cash flow growth of 7.3%, and is expected to report cash flow expansion of 15.7% this year.

Source: https://finance.yahoo.com/news/why-sherwin-williams-shw-top-134509596.html

TAXES

TENANT RESPONSIBLE

Sherwin-Williams Earns #1 Ranking for Interior Paint in J.D. Power Paint Satisfaction Study

06/12/2024

Sherwin-Williams received the highest honors in customer satisfaction with interior paint in the J.D. Power 2024 U.S. Paint Satisfaction Study. This is the second consecutive win for Sherwin-Williams in the interior paint segment, excelling in various study dimensions among interior paints and achieving the highest score for level of trust, ease of cleaning surfaces, adequacy of coverage, and variety of offerings in the segment.

J.D. Power, a globally respected authority in consumer insights with over five decades of expertise in analyzing customer interactions with brands and products, has awarded Sherwin-Williams for the second consecutive year. The J.D. Power 2024 U.S. Paint Satisfaction Study evaluates seven key dimensions driving satisfaction: adequacy of coverage, durability, ease of application, ease of cleaning surfaces, level of trust, value given price paid, and variety of offerings. This year’s study surveyed 6,892 customers who had purchased and applied interior paint, exterior paint, and/or exterior stain within the last 12 months.

Source: https://www.prnewswire.com/news-releases/sherwin-williams-earns-1-ranking-for-interior-paint-in-jd-power-paint-satisfaction-study-302169786.html

$2,128,000

PROPERTY PHOTOS

SUBJECT PROPERTY

Clark Public Utilities Operations Center

Covington Middle School

NE Fourth Plan Blvd

Padden Pkwy

Heritage High School

Sifton Elementary School

Fountain Village

Sherwin Williams | Vancouver, WA

1 Mile

3 Miles

5 Miles

DEMOGRAPHICS

BUSINESS

INCOME

Vancouver WA

Vancouver is a city on the north bank of the Columbia River in the U.S. state of Washington, located in Clark County. Founded in 1825 and incorporated in 1857, Vancouver had a population of 190,915 as of the 2020 census, making it the fourth-largest city in Washington state. Vancouver is the seat of government of Clark County and forms part of the Portland-Vancouver metropolitan area, the 25th-largest metropolitan area in the United States. Originally established in 1825 around Fort Vancouver, a fur-trading outpost, the city is located on the Washington–Oregon border along the Columbia River, directly north of Portland, and is considered a suburb of the city along with its surrounding areas.

The Vancouver economy is characterized by border economics with neighboring Portland, Oregon. The state of Washington levies no individual or corporate income taxes and levies a property tax below the national average and a sales tax above the national median. The State of Oregon has even lower property taxes and no sales tax but one of the highest state income taxes.