Overview

Description

Jonna Group at Colliers International has been selected to exclusively represent for sale the corporate Sherwin-Williams located in affluent Novi, Michigan. Sherwin-Williams is operating on a double-net lease with minimal landlord responsibilities and has approximately 4.7 years remaining of term. The lease features two five-year options that include rent increases in each option period. This unique Sherwin-Williams is a commercial paint store that serves professionals and contractors. It is nearly double the size of a typical retail Sherwin-Williams footprint. Sherwin-Williams has long term occupancy of over 30 years at subject site and contains below market rents at $8.19 PSF.

The subject property is located in Novi, Michigan, one of the fastest growing cities in Michigan. This Sherwin-Williams location is the only one located in the city with limited immediate competition. The property benefits from being in a dense residential and retail corridor with strong demographics including over 139,000 people in a five-mile radius and average household income of over $123,000, more than double the national average. Several retailers in the immediate vicinity include: Home Depot, Walmart, FedEx, Kroger, Sam’s Club, Kohl’s, Macy’s, TJ-Maxx, Marshall’s, Five Below, Advance Auto Parts, O’Reilly Auto Parts, Hobby Lobby, Dick’s Sporting Goods, Michael’s, and many more.

The subject property is located in Novi, Michigan, one of the fastest growing cities in Michigan. This Sherwin-Williams location is the only one located in the city with limited immediate competition. The property benefits from being in a dense residential and retail corridor with strong demographics including over 139,000 people in a five-mile radius and average household income of over $123,000, more than double the national average. Several retailers in the immediate vicinity include: Home Depot, Walmart, FedEx, Kroger, Sam’s Club, Kohl’s, Macy’s, TJ-Maxx, Marshall’s, Five Below, Advance Auto Parts, O’Reilly Auto Parts, Hobby Lobby, Dick’s Sporting Goods, Michael’s, and many more.

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