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 pleased to present the opportunity to acquire a Single Tenant Net Leased Investment located in Lakewood, WA. The property is leased to Sherwin Williams, renowned for its quality paint and coating products, and established as a trusted brand in the industry. This property is positioned on a Lowe’s Home Improvement pad site, situated in the vibrant community of Lakewood, WA. This strategic location ensures high visibility and steady foot traffic. It’s located just minutes away from Lakewood Towne Center, Lakewood’s premier shopping destination. Some of the surrounding business include Hobby Lobby, 7-Eleven, Safeway, Starbucks, IHOP and much more.
Sherwin Williams extended their Lease Term in August of 2020 showing their Commitment to the Site!
LEASE SUMMARY
LEASE GUARANTOR: Sherwin-Williams Corporate
S&P CREDIT RATING: BBB
NUMBER OF LOCATIONS: 4,900+/-
HEADQUARTERS: Cleveland, OH
WEBSITE: www.Sherwin-Williams.com
PROPERTY ADDRESS: 5211 100th Street SW, Lakewood, WA
GUARANTOR: Sherwin Williams Corporate
OWNERSHIP TYPE: Fee Simple
LEASE TERM EXPIRATION DATE: December 31, 2030
EXTENDED TERMS: 2, 5-Year Options
LEASE TYPE: NNN Lease
LANDLORD RESPONSIBLE: Roof and Structure
Sherwin-Williams Company is a American Fortune 500 company in the general building materials industry. The company, with headquarters in Cleveland, Ohio, primarily engages in the manufacture, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers primarily in the North and South America and Europe.
For 150 years, Sherwin-Williams has been an industry leader in the development of technologically advanced paint and coatings. As the nation’s largest specialty retailer of paint and painting supplies, Sherwin Williams is dedicated to supporting both do-ityour-selfers and painting professionals with exceptional products; resources to make confident color selections; and expert, personalized service that focuses on project needs.
ADDRESS: 5211 100th Street SW, Lakewood, WA
TENANT: Sherwin Williams
LEASE TYPE: NNN
BUILT: 2015
BUILDING SIZE: +/- 4,000 SF
LAND SIZE: +/- 10,753 SF
CONSTRUCTION: Masonry
INVESTMENT HIGHLIGHTS
Located in an Income Tax Free State
Over 244,000 Population within a 5-mile Radius
Situated on a Lowe’s Pad Site
Tenant Pays 3% of Rent for Management Fee
RENT SCHEDULE
August 1, 2020 – December 31, 2025
January 1, 2026 – December 31, 2030 $8,800 $105,600
January 1, 2031 – December 31, 2035 (5 Yr Option Period) $9,675 $116,100
January 1, 2036 – December 31, 2040 (5 Yr Option Period) $10,646.67 $127,760.04
PROPERTY PHOTOS
FLOOR PLAN
SITE PLAN
16,000
22,000
BRIDGEPORTWAYSW
LAKEWOOD DR SW (±16,000VPD)
100THSTSW(±22,000VPD)
SUBJECT PROPERTY
LAKEWOODDRSW(
±16,000VPD)
100THSTSW(±22,000VPD)
100TH ST SW (±22,000VPD)
LAKEWOODDRSW(
±16,000VPD)
SURROUNDING AREA
Clover Park
Steilacoom
Ketron
LAKEWOOD TOWNE CENTER
CLOVER PARK HIGH SCHOOL
BRIDGEPORT WAY SW
STEILACOOM
DEMOGRAPHICS
BUSINESS
INCOME
1 Mile
3 Miles
5 Miles
LAKEWOOD WA
Incorporated in 1996, Lakewood is the second-largest city in Pierce County and the 18th-largest in the state of Washington. It is the host community to Joint Base Lewis-McChord, the largest joint base on the West Coast and one of the largest in the U.S.
Lakewood is strategically located along the Interstate 5 corridor. It borders JBLM, Camp Murray (home to the Washington National Guard) and Tacoma, and is situated a short drive from Seattle and Olympia. Lakewood also is a hub for activity at the Ports of Tacoma, Olympia and Seattle.
244,744 Residents 7,204 Businesses 83,868 Jobs $103,567 Avg Household Income
