Single-Tenant Net-Leased Commercial Property. 100% Occupied by the global leader in manufacture, development, distribution, and sale of coatings and finishes. Built-to-suit for Sherwin-Williams in 2007. Sherwin-Williams shows commitment to the location in 2017, signs a 5-year lease renewal with 5% rental increase to 2022. Two five (5) year renewal options remain, extending expected occupancy to 2032. Mission critical, this is the only Sherwin-Williams Product Finishes facility in South Dakota. Minimal landlord responsibilities.

Location Description:

Built-to-suit for Sherwin-Williams in 2007, 18,000 Square Foot Product Finishes and Distribution Facility located on 2.04 acres in the growth market of Sioux Falls, SD. Close proximity to the Sioux Falls Regional Airport, Interstate 29 and Interstate 90 facilitates distribution. Mission critical, this is the only Sherwin-Williams Product Finishes facility in South Dakota.

Sioux Falls's is the most populous city in South Dakota. Population grew 20% from 2000-2010. Population growth from 2010-2017 was 2.01% annually. The rate of growth is expected to continue at a rate of 1.87% annually over the next 5 years. In addition average household income is expected to rise by 3% or more annually by 2022.

Highlights:

>> S&P (BBB) Rated Credit Tenant Sherwin-Williams

>> No State Income Tax

>> Strong Growth Market

>> 2% Annual Population Growth Between 2010-2017

>> 1.87% Annual Population Growth Expected Between 2017-2022

>> 3% Annual Average Household Income Growth Expected between 2017-2022

>> 18,000 SF Product Finishes and Distribution Facility on 2.039 Acres

>> Mission Critical Facility - Only Product Finishes Facility in South Dakota

>> Close Proximity to Airport, Interstate 90 & Interstate 29

>> Built-to-Suit in 2007

>> 2017: Sherwin-Williams signs 5 year lease extension with 5% rent increase

>> Current term expires 2/28/2022

>> Net Leased Structure provides for Minimal LL Responsibilities

>> Roof Warranty Until 2027

>> Two 5-year renewal options with 12% & 10% rent increases respectively

>> Price: $2,195,475 ($121.97 / Sq. Ft)

>> Gross Annual Rent: $166,500 ($9.25 / Sq. Ft.)

>> Net Operating Income: $159,177

>> Cap Rate: 7.25%