Sherwin-Williams is an attractive net lease asset for many investors who are seeking a lower price point but still want a high credit grade tenant. For investors who don't need a true triple net lease (most Sherwin-Williams leases are double net) they are an opportunity to get a good tenant at a reasonable price. Furthermore, though their leases are usually on the shorter end (10 years) they do offer good increases - some up to 10% per option.
They are usually well located in shopping centers, mini-malls etc to be easily accessed by their customers. Sherwin-Williams parcels tend to be smaller but they are also very reusable due to their high profile locations. The smaller parcel size also means Sherwin-Williams net leases typically pay lower rent, which leads to lower price points.
Pros:
- Lease usually includes increases
- Investment grade credit tenant
- Corporate Guarantees
- Still relatively cheap for buyers
Cons:
- Shorter lease terms
- Many leases are Double Net
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Jonathan Hipp
Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.
