Description
Newly renovated two tenant strip center that offers the investor a combination of existing stabilized cashflow plus future value-ad opportunity. The strip center is currently fully occupied by Sherwin Williams and the Place of Grace. Sherwin William is a sought after investment grade tenant, rated BBB by Standard & Poor's. This publicly traded company is one of the largest paint manufactures in the United States worldwide. The company posted $22.15 billion in fiscal 2022 sales, up 11.1% over the prior year. It occupies 5,250 sq ft which is 75% of the 7,000 sq ft center. It has been in this location since1987, and remodeled their interior in 2023 and signed a new 10-year lease indicating the store's success at this location. The second tenant, Place of Grace, occupies 1,750 sq ft. It has been at the current location since 1999. The space that it occupies is a prime End Cap Corner space, with excellent Westminster Pike frontage. When the its lease ends in 2028, this great space offer investor the value-add opportunity to re-tenant with a superior use at a higher rental rate.
Description
Newly renovated two tenant strip center that offers the investor a combination of existing stabilized cashflow plus future value-ad opportunity. The strip center is currently fully occupied by Sherwin Williams and the Place of Grace. Sherwin William is a sought after investment grade tenant, rated BBB by Standard & Poor's. This publicly traded company is one of the largest paint manufactures in the United States worldwide. The company posted $22.15 billion in fiscal 2022 sales, up 11.1% over the prior year. It occupies 5,250 sq ft which is 75% of the 7,000 sq ft center. It has been in this location since1987, and remodeled their interior in 2023 and signed a new 10-year lease indicating the store's success at this location. The second tenant, Place of Grace, occupies 1,750 sq ft. It has been at the current location since 1999. The space that it occupies is a prime End Cap Corner space, with excellent Westminster Pike frontage. When the its lease ends in 2028, this great space offer investor the value-add opportunity to re-tenant with a superior use at a higher rental rate.
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