Tulsa, OK - Sherwin Williams

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Sherwin-Williams investment property located in Tulsa, Oklahoma. The tenant, Sherwin-Williams recently signed a brand new 12 year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 6 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is a NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Sherwin-Williams is located near the signalized, hard corner intersection of West 71st Street S and U.S. Highway 75 with which combine to average over 120,500 vehicles passing by daily. West 71st Street is a major retail thoroughfare serving the city of Tulsa. The Sherwin-Willliams is an outparcel to a REI anchored center that also features a Dutch Bros and three other pad spaces. The asset is located less than a mile from Tulsa Hills Shopping Center, a 494,000+ square foot Target and Lowe’s Home Improvement anchored center, that features national/tenant credits such as DICK’S Sporting Goods, Ulta, PetSmart, Staples, Belk, Five Below, and others. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Sam’s Club, Best Buy, Buffalo Wild Wings, Chick-fil-A, Starbucks, Whataburger, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 143,500 and 91,800 employees with an average household income of $105,308.