Sherwin Williams
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Offering Memorandum Colliers International Sherwin Williams Northeast Florida 8282 Western Way Jacksonville, Florida 50 North Laura Street Suite 1725 Jacksonville, Florida 32202 PREPARED BY: Gary Montour Jeremy Martin OFC +1 904 358 1206 Senior Vice President FAX +1 904 353 4949 Retail Associate DIR +1 904 861 1116 DIR +1 904 861 1115 www.colliers.com/jacksonville [email protected] [email protected] CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum contains select information pertaining to the business and affairs of the Property at 8282 Western Way, Jacksonville, FL. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a pro- spective purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers International. The material is based in part upon informa- tion supplied by the Seller and in part upon financial information obtained by Colliers International from sources it deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own pro- jections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence. By acknowledging your receipt of this Offering Memorandum from Colliers International, you agree: 1) The Offering Memorandum and its contents are confidential; 2) You will hold it and treat it in the strictest of confidence; and 3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Seller. Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expres- sions of interest or offers to purchase the Property and to terminate discussions with any person or entity review- ing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed and delivered. If you wish not to pursue negotiations leading to the acquisition of 8282 Western Way, Jacksonville, FL or in the future you discontinue such negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum. A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection with the sale of the Property shall be limited to those expressly pro- vided in an executed Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospec- tive purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale of the Property. This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there has been no change in the state of affairs of the Property since the date this Offering Memo- randum. P. 2 OFFERING MEMORANDUM | 8282 WESTERN WAY OFFERING SUMMARY Sherwin Williams 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 Financial Information Investment Highlights > Asking Price: $762,500 | CAP Rate 8.00% > 100% leased > NOI: $60,996 > Tenant has 13 year history as sole build to suit occupant > Rent/Month: $5,083 > New five year lease, with two five year extension options > Rentable SF: 5,047± SF > Parking Spaces: 20 spaces (including 1 handicap) > Over 4,100 Company Operated stores and facilities > Lease Type: NNN (landlord responsible for roof and > Sherwin Williams has presence in more than 115 exterior walls) countries > Lease Expiration: July 2021 > Forbes magazine top 100 World’s Most Innovative > Occupancy: 100% > Rent Increases: Fixed for initial term, two 5-year options Companies at 8% increases > 2015 Fortune 500 Company (#253) > 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 Baymeadows Road Recreate LOGO Western Way Cir y a W n r e t NORTH s e W Demographics 1 Mile 3 Mile 5 Mile Pop. Est. 2016 8,848 65,959 158,064 Pop. Est. 2021 9,355 70,762 168,303 2016 Est. Avg. HH Income $51,532 $74,559 $75,926 Source: Esri Business Analyst Online Traffic Count Daily Trucks Baymeadows Rd 48,500 728 I-95 83,500 10,772 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 to a growing customer base in more than 100 countries. The Sherwin-Williams Company was founded Latin America Coatings Group manufactures and sells a by Henry Sherwin and Edward Williams in wide range of architectural paints, industrial coatings and 1866. Today, we are a global leader in the manufacture, related products throughout Latin America. The Company development, distribution and sale of coatings manufactures products under well-known brands such and related products to professional, industrial, as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, commercial and retail customers. Thompson’s® Water Seal® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® Paint Stores Group operates the exclusive branded products are sold exclusively through more than outlets for Sherwin-Williams® branded paints, 4,000 companyoperated stores and facilities, while the stains, supplies, equipment and floorcovering in Company’s other brands are sold through leading mass the U.S., Canada and the Caribbean. Consumer merchandisers, home centers, independent paint dealers, Group sells one of the industry’s strongest hardware stores, automotive retailers and industrial portfolios of branded and private-label products distributors. For more information, visit www.sherwin- through retailers across North America and in williams.com. parts of Europe, and also operates a highly efficient and productive global supply chain The Company is comprised of four reportable segments, for paint, coatings and related products. Global which together provide our customers Finishes Group manufactures and sells a wide innovative solutions to ensure their success, no matter range of OEM product finishes, protective where they work, or what surfaces they and marine coatings, and automotive finishes are coating: Paint Stores Group operates the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floorcovering 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. 7 OFFERING MEMORANDUM | 8282 WESTERN WAY ABOUT JACKSONVILLE, FL It’s easy to see why so many people are moving to the Jackson- ville 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’s cost of living index is 94.3 out of a national average of 100, due in large part to relatively low housing costs. Residents enjoy low prices for grocery items, utilities, transportation, health care, and miscellaneous goods and services, all of which enhance a quality lifestyle. Jacksonville’s moderate year-round climate af- Jacksonville is situated in northeast Florida, and is located where fords residents an environment in which they can continually en- the St. Johns River meets the Atlantic Ocean. Jacksonville is the joy outdoor opportunities