Investment Overview

This investment offering features a freestanding Sherwin-Williams located in the Alpharetta/East Roswell submarket (Atlanta MSA). The property provides excellent visibility along Highway 140 (Holcomb Bridge Road) - which serves as a major four lane thoroughfare connecting GA-400 to the west and Highway 141 to the east. The property is well located among high end residential developments, country clubs, schools, recreation and national retailers in the immediate area. Within a 3-mile radius, household incomes are approximately $178k annually. Sherwin-Williams signed a new 10 year lease in May of 2011 and in April 2021 agreed to extend the current term for an additional 10 years to the end of 2031 - after which there are three, 5 year renewal options with 10% rent increases for each option. Tenant sales at this store have been outstanding as reported by store management and approaching $6M. High residential growth in the immediate area favors higher year over year sales trajectory into the future. The tenant is currently paying very low market rent at only $17.50/sf/year - providing an investor additional security with respect to the residual underlying real estate. Quoted rents for new and existing freestanding retail in the immediate area are in excess of $30/sf or more.