Dry Good
Sherwin-Williams | Abs NNN Ground Lease | Cheap Rent | 40+ Yrs of Tenancy | Greenwood, IN
1282 Greenwood Park Dr W, Greenwood, IN 46142
Listing Price: $1,818,000
Investment Overview
Marcus & Millichap is pleased to present for sale, Sherwin-Williams located in Greenwood, Indiana. The subject property is a 1.3 million-square-foot super-regional mall that is anchored by Macy's, Dick's, JCPenney, Von Maur, Barnes & Noble, and Regal Cinemas. Sherwin-Williams is being offered for $1,818,000.
Sherwin-Williams | Abs NNN Ground Lease | Cheap Rent | 40+ Yrs of Tenancy | Greenwood, IN
Investment Highlights
- Sherwin-Williams Absolute Triple-Net Ground Lease with 12.25 Years Remaining in Greenwood, Indiana (Indianapolis MSA)
- 43 Years of Tenancy; Original Ground Lease Commenced in 1980; History of Five Renewals All at Increases in Rent
- Tenant has Demonstrated Extremely Strong Commitment to Site: Early 10-Year Extension in 2023 Taking Expiration into 2035; 28 Percent Increase in Rent and 10 Percent Mid-Term Bump
- Tenant Previously Executed 10-Year Renewal in 2015 at a 58 Percent Increase in Rent and 10 Percent Mid-Term Bump
- Naked Lease with No Options Remaining, Potential Upside via Negotiating Long-Term Extension and Large Rent Increase Upon 2035 Expiration
- True Passive Absolute Triple-Net Lease Structure with Zero Landlord Responsibilities
- 6,018-Square-Foot Building Situated on 0.72-Acre Parcel; Fungible "Rectangular Box" Building
- Strong Intrinsic Value in Site Given Commercial Density and Proximity to Major Intersection; Fungible Rectangular Box Construction
Dry Good
Sherwin-Williams | Abs NNN Ground Lease | Cheap Rent | 40+ Yrs of Tenancy | Greenwood, IN
Listing Price: $1,818,000
Investment Highlights
- Sherwin-Williams Absolute Triple-Net Ground Lease with 12.25 Years Remaining in Greenwood, Indiana (Indianapolis MSA)
- 43 Years of Tenancy; Original Ground Lease Commenced in 1980; History of Five Renewals All at Increases in Rent
- Tenant has Demonstrated Extremely Strong Commitment to Site: Early 10-Year Extension in 2023 Taking Expiration into 2035; 28 Percent Increase in Rent and 10 Percent Mid-Term Bump
- Tenant Previously Executed 10-Year Renewal in 2015 at a 58 Percent Increase in Rent and 10 Percent Mid-Term Bump
- Naked Lease with No Options Remaining, Potential Upside via Negotiating Long-Term Extension and Large Rent Increase Upon 2035 Expiration
- True Passive Absolute Triple-Net Lease Structure with Zero Landlord Responsibilities
- 6,018-Square-Foot Building Situated on 0.72-Acre Parcel; Fungible "Rectangular Box" Building
- Strong Intrinsic Value in Site Given Commercial Density and Proximity to Major Intersection; Fungible Rectangular Box Construction
Investment Overview
Marcus & Millichap is pleased to present for sale, Sherwin-Williams located in Greenwood, Indiana. The subject property is a 1.3 million-square-foot super-regional mall that is anchored by Macy's, Dick's, JCPenney, Von Maur, Barnes & Noble, and Regal Cinemas. Sherwin-Williams is being offered for $1,818,000.
