Sherwin-Williams & Big 5 Sporting Goods

Description

Kidder Mathews is pleased to exclusively offer for sale a 15,099 square-foot, retail investment property, located on a corner pad site to a busy Fred Meyer Center at 910 S. Burlington Blvd, Burlington, Washington.

This two-tenant center is occupied by Sherwin-Williams and Big 5 Sporting Goods on long-term leases. Sherwin-Williams recently signed a new, 10-year lease and Big 5 exercised a 5-year extension option to their original primary lease term that started in 1994. Both have additional extension options on their respective leases.

The building was constructed in 1994 and is prominently situated at the northwest corner of Burlington Boulevard and Cedar Street on a 1 acre pad site to Fred Meyer. This intersection has a combined traffic count of approximately 22,000 vehicles per day.

Highlights

SHERWIN-WILLIAMS

The Sherwin-Williams Company (NYSE: "SHW"), ranked #175 on the Fortune 500 list, has signed a new 10-year net lease to a strong and growing corporate tenant. The lease includes scheduled rental increases in the option periods. Rated "BBB" by Standard & Poor's, Sherwin-Williams has demonstrated robust financial performance, growing its EPS by 11% per year over the last three years.

BIG 5 SPORTING GOODS

Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.

EXCELLENT RETAIL LOCATION

Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.

TURN-KEY INVESTMENT

The center has been meticulously maintained, including newer HVAC units and LED lighting. Expenses are passed through to the tenant.