Sherwin Williams, Ten (10) Year Lease 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256
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OFFERING SUMMARY Sherwin Williams, Ten (10) Year Lease 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 Financial Information Investment Highlights > Asking Price: $885,333 | CAP Rate 6.75% > 100% leased and built in 2003 > NOI: $59,760 > Tenant has 14 year history as sole build to suit occupant > Rent/Month: $4,980 > New ten year lease, with four five-year extension options > New ten (10) year lease extension (9/1/2017-8/31/2027) > Rentable SF: 5,047± SF > Over 4,100 Company Operated stores and facilities > Parking Spaces: 20 spaces (including 1 handicap) > Sherwin Williams has presence in more than 115 > Lease Type: NNN (landlord responsible for roof and countries exterior walls) > Forbes magazine top 100 World’s Most Innovative > Occupancy: 100% > Rent Increases: Fixed for initial ten (10) year term, four Companies 5-year options at 8% increases > 2016 Fortune 500 Company (#236) > Offering Type: Fee Simple > Guarantee: Corporate Lease GARY MONTOUR JEREMY MARTIN COLLIERS INTERNATIONAL 904 358 1206 | EXT 1116 904 358 1206 | EXT 1115 NORTHEAST FLORIDA JACKSONVILLE, FL 32202 JACKSONVILLE, FL 32202 50 N. Laura Street | Suite 1725 Jacksonville, FL 32202 4765 [email protected] [email protected] www.colliers.com/jacksonville OFFERING SUMMARY Aerial 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 123,500± vehicles/day Baymeadows Road 49,500± vehicles/day Recreate LOGO Western Way Cir y a W n r e t s e W Demographics 1 Mile 3 Mile 5 Mile Pop. Est. 2017 9,554 67,665 162,768 Pop. Est. 2022 10,004 72,279 173,145 2017 Est. Avg. HH Income $54,130 $76,827 $78,452 Source: Esri Business Analyst Online Traffic Count Daily Trucks Baymeadows Rd 49,500 743 I-95 123,500 16,113 Source: Florida Department of Transportation (FDOT) COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725 4765 Jacksonville, FL 32202 www.colliers.com/jacksonville OFFERING SUMMARY Survey 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725 4765 Jacksonville, FL 32202 www.colliers.com/jacksonville OFFERING SUMMARY Property Photos 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725 4765 Jacksonville, FL 32202 www.colliers.com/jacksonville ABOUT SHERWIN WILLIAMS Sherwin Williams History coatings, and automotive finishes to a growing customer The Sherwin-Williams Company was founded base in more than 100 countries. Latin America Coatings by Henry Sherwin and Edward Williams in Group manufactures and sells a wide range of architectural 1866. Today, we are a global leader in the manufacture, paints, industrial coatings and related products throughout development, distribution and sale of coatings Latin America. The Company manufactures products under and related products to professional, industrial, well-known brands such as Sherwin-Williams®, Dutch commercial and retail customers. Boy®, Krylon®, Minwax®, Thompson’s® Water Seal® and many more. With global headquarters in Cleveland, Ohio, Paint Stores Group operates the exclusive Sherwin-Williams® branded products are sold exclusively outlets for Sherwin-Williams® branded paints, through more than 4,000 company operated stores and stains, supplies, equipment and floor covering facilities, while the Company’s other brands are sold through in the U.S., Canada and the Caribbean. leading mass merchandisers, home centers, independent Consumer Group sells one of the industry’s paint dealers, hardware stores, automotive retailers strongest portfolios of branded and private- and industrial distributors. For more information, visit label products through retailers across North www.sherwin-williams.com. America and in parts of Europe, and also operates a highly efficient and productive The Company is comprised of four reportable segments, global supply chain for paint, coatings and which together provide our customers related products. Global Finishes Group innovative solutions to ensure their success, no matter manufactures and sells a wide range of where they work, or what surfaces they OEM product finishes, protective and marine are coating: Paint Stores Group operates the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean. Consumer Group sells one of the industry’s strongest portfolios of branded and private- label products through retailers across North America and in parts of Europe, and also operates a highly efficient and productive global supply chain for paint, coatings and related products. Global Finishes Group manufactures and sells a wide range of OEM product finishes, protective and marine coatings, and automotive finishes to a growing customer base in more than 100 countries. Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products P. 5 OFFERING MEMORANDUM | 8282 WESTERN WAY ABOUT JACKSONVILLE, FL thinking companies see a great future here. A perfect combination of low cost of living and high quality of life. The ideal blend of business and pleasure. It’s easy to see why so many people are moving to the Jacksonville area each year. Jacksonville has one of the lowest overall costs of living in Florida and the United States. Affordable, high-quality housing, ample recreational opportunities, proximity to the beach and short commute times are just some of the reasons why so many people choose to relocate to Jacksonville every year. Jacksonville is situated in northeast Florida, and is located Jacksonville’s cost of living index is 94.3 out of a national where the St. Johns River meets the Atlantic Ocean. average of 100, due in large part to relatively low housing Jacksonville is the county seat for Duval County. Jacksonville costs. Residents enjoy low prices for grocery items, spans over approximately 840 square miles. The climate in utilities, transportation, health care, and miscellaneous Jacksonville is normally warm during summer with the temperatures hovering around 90 degrees. During winter, goods and services, all of which enhance a quality lifestyle. the average minimum temperature is around 46 degrees. Jacksonville’s moderate year-round climate affords residents an environment in which they can continually enjoy outdoor Owing to its prime location and outstanding connectivity to opportunities for exercise, recreation or relaxation, making interstate highways, the city is headquarters to myriad them more-productive, happier and healthier employees. companies such as: More than 30,000 new jobs have been created by companies CSX Winn Dixie expanding or relocating to Jacksonville since 2000. The Crowley Maritime Stein Mart continual influx of new business into Jacksonville is driven by EverBank Financial Fidelity the positive economic climate the city boasts. Jacksonville’s St Joe PSS World Medical deep-water port is the 14th largest in the United States and handles shipments from around the globe. Jacksonville is a vibrant home to a broad spectrum of industries. It has a pro-business environment with an Many large employers, both manufacturing and non- unbeatable location. A burgeoning international trade center manufacturing, have established strong footholds with an abundant, culturally diverse workforce. It’s the hub in Jacksonville. Recent years have brought major of the seven Northeast Florida counties of Baker, Clay, Duval, announcements from companies like Fidelity Investments, Flagler, Nassau, Putnam and St. Johns. A place that offers Merrill Lynch, Washington Mutual, Bridgestone Firestone, expanding or relocating companies unlimited potential that Fidelity National Financial and many others. The result is an rivals the nation’s top business communities. It’s Jacksonville. open market of thriving competition that recruits more new And it’s where the future leads. business to the Jacksonville community on a daily basis. Northeast Florida is one of the fastest-growing regions in the United States, which makes it the perfect place for businesses that want to steadily advance. This exciting progress is made possible by communities and government leaders who are dedicated to economic development. And Jacksonville has the highly skilled workforce your business needs to succeed. Jacksonville’s vision for the future is clear — to be a place where businesses will thrive while preserving the area’s natural resources and pristine surroundings. Forward- P. 6 OFFERING MEMORANDUM | 8282 WESTERN WAY ABOUT JACKSONVILLE, FL million customers within a day’s drive. CSX, headquartered in Jacksonville, is a leading supplier of rail-based freight transportation in North America. The CSX Transaportation Network encompasses about 21,000 route miles of track in 23 states and two provinces in Canada. Jacksonville International Airport (JAX) offers 95 non-stop daily flights to 27 destinations with an average price that is 15 percent lower than East Coast hub airports. After investing more than $300 million to construct and expand the terminal and its three concourses, JAX is now one of the most modern airports in the world. MILITARY The Navy employs more than 37,000 people in the Jacksonville QUALITY OF LIFE MSA. The Navy has two bases in Jacksonville, the Naval Air There are a number of reasons why our region is such an Station Jacksonville and Naval Station Mayport. NS Mayport’s attractive place to live. These include having a wonderful climate, operational composition is unique, with a busy harbor capable