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Miscellaneous

Sherwin-Williams | Phoenix MSA | Investment Grade Credit Tenant | Major Busy Intersection

5961 E McKellips Rd, Mesa (Phoenix MSA), AZ 85215

Listing Price: $3,791,000

Cap Rate
4.30%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
11.5
Gross SF
4,640
Guarantor
Corporate Guarantee
Rentable SF
4,640
Price/Gross SF
$817.03
Lease Type
Double Net
Rent Per Square Feet
$35.13

Investment Overview

Mesa is a city in Maricopa County, Arizona. It is the most populous city in the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south along with Queen Creek, and Apache Junction on the east. Mesa is the third-largest city in Arizona after Phoenix and Tucson, the 37th-largest city in the US, and the largest city that is not a county seat. The city is home to 504,258 people as of 2020 according to the Census Bureau and has been described as “America’s most conservative city”. More than 40,000 students are currently enrolled in more than 10 colleges and universities located in Mesa, including the Polytechnic campus of Arizona State University, Benedictine University, A.T. Still University, Upper Iowa University, Mesa Community College and Chandler-Gilbert Community College. Private for-profit institutions include Arizona College, Carrington College, DeVry University, Pima Medical Institute, and CAE Phoenix Aviation Academy. In January 2020, Arizona State University broke ground on ASU at Mesa City Center, a project offering programs from the Herberger Institute for Design and Arts that will be located in downtown Mesa that is scheduled to open in spring 2022. It is also home to the largest relief airport in the Phoenix area, Phoenix-Mesa Gateway Airport, which is in the southeastern corner of the city.

Investment Highlights

  • Long Term Corporate Lease Featuring 7% Rental Increases Every 5 Years throughout the Initial Term and Options. 2022 Complete Interior and Exterior Renovation including New Roof w/ Warranty.
  • Ranked #175 on the Fortune 500 List. Sherwin Williams (NYSE: SHW) Features Investment Grade Credit Rating "BBB" by S&P's and Annual Revenue Exceeding $19.9 Billion.
  • Outparcel to Falcon View Plaza - a 190k+ Sq.Ft. Shopping Center Anchored by Fry's Food & Drug, Kohl's and more than 15 Retailers and Restaurants.
  • Positioned Along Area's Major Retail & Traffic Corridor: Located in a Major Signalized Hard Corner - Features Easy Access & Excellent Visibility with Combined Traffic Counts Exceeding 32k Vehicles.
  • Direct Residential Consumer Base - Nearby Apartment Complexes include The Springs at Alta Mesa (200 Units), Ascend at Red Mountain (153 Units), and Springs at Red Mountain (192 Units).
  • Densely Populated and Affluent Area: Features an Average Household Income of $90k+ within a 3-Mile Radius and more than 239k People Residing within a 5-Mile Radius. Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - Near Several Large Retail & Housing Developments / Under Construction.
  • Near Falcon Field Airport - with more than 300k Operations Annually, Falcon Field Consistently Ranks Among the Top Five Most Active General Aviation Airports in the U.S.
  • In Close Proximity to Numerous National Retailers including The Home Depot, Target, Safeway, Walmart Supercenter, Walgreens, Michaels, PetSmart and many more.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Financing By

Miscellaneous

Sherwin-Williams | Phoenix MSA | Investment Grade Credit Tenant | Major Busy Intersection

Listing Price: $3,791,000

Cap Rate
4.30%
Tenant Name
Sherwin-Williams
Years Remaining On Lease
11.5
Gross SF
4,640
Guarantor
Corporate Guarantee
Rentable SF
4,640
Price/Gross SF
$817.03
Lease Type
Double Net
Rent Per Square Feet
$35.13

Investment Highlights

  • Long Term Corporate Lease Featuring 7% Rental Increases Every 5 Years throughout the Initial Term and Options. 2022 Complete Interior and Exterior Renovation including New Roof w/ Warranty.
  • Ranked #175 on the Fortune 500 List. Sherwin Williams (NYSE: SHW) Features Investment Grade Credit Rating "BBB" by S&P's and Annual Revenue Exceeding $19.9 Billion.
  • Outparcel to Falcon View Plaza - a 190k+ Sq.Ft. Shopping Center Anchored by Fry's Food & Drug, Kohl's and more than 15 Retailers and Restaurants.
  • Positioned Along Area's Major Retail & Traffic Corridor: Located in a Major Signalized Hard Corner - Features Easy Access & Excellent Visibility with Combined Traffic Counts Exceeding 32k Vehicles.
  • Direct Residential Consumer Base - Nearby Apartment Complexes include The Springs at Alta Mesa (200 Units), Ascend at Red Mountain (153 Units), and Springs at Red Mountain (192 Units).
  • Densely Populated and Affluent Area: Features an Average Household Income of $90k+ within a 3-Mile Radius and more than 239k People Residing within a 5-Mile Radius. Immediate Area Experiencing Major Growth: Located in a Rapidly Growing Community with Robust Demographics - Near Several Large Retail & Housing Developments / Under Construction.
  • Near Falcon Field Airport - with more than 300k Operations Annually, Falcon Field Consistently Ranks Among the Top Five Most Active General Aviation Airports in the U.S.
  • In Close Proximity to Numerous National Retailers including The Home Depot, Target, Safeway, Walmart Supercenter, Walgreens, Michaels, PetSmart and many more.

Investment Overview

Mesa is a city in Maricopa County, Arizona. It is the most populous city in the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south along with Queen Creek, and Apache Junction on the east. Mesa is the third-largest city in Arizona after Phoenix and Tucson, the 37th-largest city in the US, and the largest city that is not a county seat. The city is home to 504,258 people as of 2020 according to the Census Bureau and has been described as “America’s most conservative city”. More than 40,000 students are currently enrolled in more than 10 colleges and universities located in Mesa, including the Polytechnic campus of Arizona State University, Benedictine University, A.T. Still University, Upper Iowa University, Mesa Community College and Chandler-Gilbert Community College. Private for-profit institutions include Arizona College, Carrington College, DeVry University, Pima Medical Institute, and CAE Phoenix Aviation Academy. In January 2020, Arizona State University broke ground on ASU at Mesa City Center, a project offering programs from the Herberger Institute for Design and Arts that will be located in downtown Mesa that is scheduled to open in spring 2022. It is also home to the largest relief airport in the Phoenix area, Phoenix-Mesa Gateway Airport, which is in the southeastern corner of the city.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

Financing By

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