Investment Offering
Quincy, MA - Sherwin Williams
100 Mayor Thomas J McGrath Highway | Quincy, MA 02169
$3,900,000
Price5%
Cap Rate$195,000
NOI4,000
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NN+ leased, investment grade (S&P: BBB), corporate guaranteed, Sherwin-Williams, investment property located in Quincy, MA. The tenant recently executed a brand new 11-year lease with 3 (5-year) option periods to extend. The lease features 10% rental increases in May 2024 and at the beginning of each option period, growing NOI and hedging against inflation. The building underwent a complete renovation in 2019 using high quality materials. The lease is corporate guaranteed by Sherwin-Williams, an established and nationally recognized brand with over 4,200 locations. The lease is NN+ with landlord responsibilities limited to roof, structure, and parking lot.
Location
Sherwin-Williams is strategically located on Mayor Thomas J. McGrath Highway. The asset is just off Southern Artery (31,600 VPD), a primary thoroughfare for Downtown Quincy. The property is also equipped with a large monument sign, providing excellent visibility on Mayor Thomas J. McGrath Highway. Sherwin-Williams is ideally within walking distance from Downtown Quincy, a vibrant neighborhood, 25 minutes outside of Boston, that underwent a $1.6 billion-dollar revitalization. The site is located down the street from the proposed Quincy Center Redevelopment, a mixed-use project anchored by a 200,000 SF medical office building and includes a hotel (140 rooms) and a residential building (110 units). All three buildings will feature ground floor retail space, increasing draw to the area. Nearby national/credit tenants include Stop & Shop, CVS Pharmacy, T.J. Maxx, Advance Auto Parts, Dollar Tree, and more, increasing crossover traffic. The 5-mile trade area is supported by a dense population of more than 260,000 people and with an average household income of $98,048.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215