GARY MONTOUR 904 358 1206 | EXT 1116 JACKSONVILLE, FL 32202 [email protected]JEREMY MARTIN 904 358 1206 | EXT 1115 JACKSONVILLE, FL 32202 [email protected]OFFERING SUMMARY Sherwin Williams, Ten (10) Year Lease 8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256 4765 Financial Information > Asking Price: $885,333 | CAP Rate 6.75% > NOI: $59,760 > Rent/Month: $4,980 > New ten (10) year lease extension (9/1/2017-8/31/2027) > Rentable SF: 5,047± SF > Parking Spaces: 20 spaces (including 1 handicap) > Lease Type: NNN (landlord responsible for roof and exterior walls) > Occupancy: 100% > Rent Increases: Fixed for initial ten (10) year term, four 5-year options at 8% increases > Offering Type: Fee Simple > Guarantee: Corporate Lease COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725 Jacksonville, FL 32202 www.colliers.com/jacksonville Investment Highlights > 100% leased and built in 2003 > Tenant has 14 year history as sole build to suit occupant > New ten year lease, with four five-year extension options > Over 4,100 Company Operated stores and facilities > Sherwin Williams has presence in more than 115 countries > Forbes magazine top 100 World’s Most Innovative Companies > 2016 Fortune 500 Company (#236)
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GARY MONTOUR904 358 1206 | EXT 1116JACKSONVILLE, FL [email protected]
JEREMY MARTIN904 358 1206 | EXT 1115JACKSONVILLE, FL [email protected]
OFFERING SUMMARY
Sherwin Williams, Ten (10) Year Lease8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256
4765
Financial Information
> Asking Price: $885,333 | CAP Rate 6.75% > NOI: $59,760 > Rent/Month: $4,980 > New ten (10) year lease extension (9/1/2017-8/31/2027) > Rentable SF: 5,047± SF > Parking Spaces: 20 spaces (including 1 handicap) > Lease Type: NNN (landlord responsible for roof and exterior walls) > Occupancy: 100% > Rent Increases: Fixed for initial ten (10) year term, four 5-year options at 8% increases > Offering Type: Fee Simple > Guarantee: Corporate Lease
COLLIERS INTERNATIONAL NORTHEAST FLORIDA50 N. Laura Street | Suite 1725Jacksonville, FL 32202 www.colliers.com/jacksonville
Investment Highlights
> 100% leased and built in 2003
> Tenant has 14 year history as sole build to suit occupant
> New ten year lease, with four five-year extension options
> Over 4,100 Company Operated stores and facilities
Source: Florida Department of Transportation (FDOT)
Demographics 1 Mile 3 Mile 5 MilePop. Est. 2017 9,554 67,665 162,768Pop. Est. 2022 10,004 72,279 173,1452017 Est. Avg. HH Income $54,130 $76,827 $78,452
Source: Esri Business Analyst Online
Recreate LOGO
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49,500± vehicles/day
123,500± vehicles/day
OFFERING SUMMARY
Survey8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256
4765
COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725Jacksonville, FL 32202 www.colliers.com/jacksonville
OFFERING SUMMARY
Property Photos8282 WESTERN WAY, JACKSONVILLE, FLORIDA 32256
4765
COLLIERS INTERNATIONAL NORTHEAST FLORIDA 50 N. Laura Street | Suite 1725Jacksonville, FL 32202 www.colliers.com/jacksonville
P. 5 OFFERING MEMORANDUM | 8282 WESTERN WAY
ABOUT SHERWIN WILLIAMSSherwin Williams HistoryThe Sherwin-Williams Company was founded by Henry Sherwin and Edward Williams in 1866. Today, we are a global leader in the manufacture, development, distribution and sale of coatings and related products to professional, industrial, commercial and retail customers.
Paint Stores Group operates the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean. Consumer Group sells one of the industry’s strongest portfolios of branded and private-label products through retailers across North America and in parts of Europe, and also operates a highly efficient and productive global supply chain for paint, coatings and related products. Global Finishes Group manufactures and sells a wide range of OEM product finishes, protective and marine
coatings, and automotive finishes to a growing customer base in more than 100 countries. Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products throughout Latin America. The Company manufactures products under well-known brands such as Sherwin-Williams®, Dutch Boy®, Krylon®, Minwax®, Thompson’s® Water Seal® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through more than 4,000 company operated stores and facilities, while the Company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors. For more information, visit www.sherwin-williams.com.
The Company is comprised of four reportable segments, which together provide our customersinnovative solutions to ensure their success, no matter where they work, or what surfaces theyare coating:
Paint Stores Group operates the exclusive outlets for Sherwin-Williams® branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean.
Consumer Group sells one of the industry’s strongest portfolios of branded and private-label products through retailers across North America and in parts of Europe, and also operates a highly efficient and productive global supply chain for paint, coatings and related products.
Global Finishes Group manufactures and sells a wide range of OEM product finishes, protective and marine coatings, and automotive finishes to a growing customer base in more than 100 countries.
Latin America Coatings Group manufactures and sells a wide range of architectural paints, industrial coatings and related products
P. 6 OFFERING MEMORANDUM | 8282 WESTERN WAY
Jacksonville is situated in northeast Florida, and is located where the St. Johns River meets the Atlantic Ocean. Jacksonville is the county seat for Duval County. Jacksonville spans over approximately 840 square miles. The climate in Jacksonville is normally warm during summer with the temperatures hovering around 90 degrees. During winter, the average minimum temperature is around 46 degrees.
Owing to its prime location and outstanding connectivity to interstate highways, the city is headquarters to myriad companies such as:
CSX Winn Dixie Crowley Maritime Stein Mart EverBank Financial Fidelity St Joe PSS World Medical
Jacksonville is a vibrant home to a broad spectrum of industries. It has a pro-business environment with an unbeatable location. A burgeoning international trade center with an abundant, culturally diverse workforce. It’s the hub of the seven Northeast Florida counties of Baker, Clay, Duval, Flagler, Nassau, Putnam and St. Johns. A place that offers expanding or relocating companies unlimited potential that rivals the nation’s top business communities. It’s Jacksonville. And it’s where the future leads.
Northeast Florida is one of the fastest-growing regions in the United States, which makes it the perfect place for businesses that want to steadily advance. This exciting progress is made possible by communities and government leaders who are dedicated to economic development. And Jacksonville has the highly skilled workforce your business needs to succeed.
Jacksonville’s vision for the future is clear — to be a place where businesses will thrive while preserving the area’s natural resources and pristine surroundings. Forward-
thinking companies see a great future here. A perfect combination of low cost of living and high quality of life. The ideal blend of business and pleasure.
It’s easy to see why so many people are moving to the Jacksonville area each year. Jacksonville has one of the lowest overall costs of living in Florida and the United States. Affordable, high-quality housing, ample recreational opportunities, proximity to the beach and short commute times are just some of the reasons why so many people choose to relocate to Jacksonville every year.
Jacksonville’s cost of living index is 94.3 out of a national average of 100, due in large part to relatively low housing costs. Residents enjoy low prices for grocery items, utilities, transportation, health care, and miscellaneous goods and services, all of which enhance a quality lifestyle. Jacksonville’s moderate year-round climate affords residents an environment in which they can continually enjoy outdoor opportunities for exercise, recreation or relaxation, making them more-productive, happier and healthier employees.
More than 30,000 new jobs have been created by companies expanding or relocating to Jacksonville since 2000. The continual influx of new business into Jacksonville is driven by the positive economic climate the city boasts. Jacksonville’s deep-water port is the 14th largest in the United States and handles shipments from around the globe.
Many large employers, both manufacturing and non-manufacturing, have established strong footholds in Jacksonville. Recent years have brought major announcements from companies like Fidelity Investments, Merrill Lynch, Washington Mutual, Bridgestone Firestone, Fidelity National Financial and many others. The result is an open market of thriving competition that recruits more new business to the Jacksonville community on a daily basis.
ABOUT JACKSONVILLE, FL
P. 7 OFFERING MEMORANDUM | 8282 WESTERN WAY
QUALITY OF LIFEThere are a number of reasons why our region is such an attractive place to live. These include having a wonderful climate, high-profile sports and recreation, rich arts and entertainment, affordable housing and various retail shopping destinations. Whether you have the desire to shop, an ear for music or an attitude for action, Jacksonville is an oasis for residents. Home to the Southeast’s largest modern and contemporary art museum, endless miles of beautiful beaches and sparkling, translucent waters, cultural pursuits from cool jazz to hot clubs and a remarkable concentration of high-end and ethnically diverse restaurants, Jacksonville offers visitors the true spirit of Northeast Florida with marvelous meals, flamboyant exhibits, peaceful landscapes and gorgeous gardens. Jacksonville is also home to one of Florida’s three NFL teams, the Jacksonville Jaguars.
HEALTH CAREThe region is home to several distinguished area hospitals and medical research facilities. Mayo Clinic is a nonprofit worldwide leader in medical care, research and education for people from all walks of life and has 370 doctors and scientists locally. Baptist Hospital has four locations all around the Jacksonville MSA. Baptist’s Downtown Jacksonville location also is connected to Wolfson Children’s Hospital, specializing in high-quality care to children. Shands HealthCare, affiliated with the University of Florida Health Science Center, is one of the Southeast’s premier health systems. Shands includes two major teaching hospitals, two specialty hospitals, a network of outpatient rehabilitation centers, and two home health agencies. Memorial Hospital is a 425-bed acute care hospital offering a breadth of services. Recent additions to the main campus include the state-of-the-art patient tower and the first accredited Chest Pain Center in Northeast Florida. St. Vincent’s HealthCare is a faith-based, not-for-profit health system that has served the people of Jacksonville and the surrounding communities since 1916.
TRANSPORTATIONNortheast Florida boasts a world-class intermodal system, comprised of four airports, three marine terminals and vast network of railways and interstate roadways that put 45
million customers within a day’s drive. CSX, headquartered in Jacksonville, is a leading supplier of rail-based freight transportation in North America. The CSX Transaportation Network encompasses about 21,000 route miles of track in 23 states and two provinces in Canada. Jacksonville International Airport (JAX) offers 95 non-stop daily flights to 27 destinations with an average price that is 15 percent lower than East Coast hub airports. After investing more than $300 million to construct and expand the terminal and its three concourses, JAX is now one of the most modern airports in the world.
MILITARYThe Navy employs more than 37,000 people in the Jacksonville MSA. The Navy has two bases in Jacksonville, the Naval Air Station Jacksonville and Naval Station Mayport. NS Mayport’s operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,000-foot runway capable of handling any aircraft in the Department of Defense inventory. With more than 3,400 acres, NS Mayport is host to more than 70 tenant commands including 22 naval ships and Helicopter Anti-Submarine Squadron. NAS Jacksonville, a multi-mission base hosting more than 100 tenant commands, is the third largest naval installation in the United States.
EDUCATIONJacksonville has numerous institutions catering to higher education including:
• Jacksonville University• University of North Florida• Florida State College at Jacksonville• Edward Waters College• The Art Institute of Jacksonville• Florida Coastal School of Law• Trinity Baptist College• Jones College
OUTDOOR RECREATIONNortheast Florida is known for its outdoor recreation opportunities, featuring 90 miles of beaches along the Atlantic Ocean and the majestic St. Johns River for boating, fishing and kayaking. National Geographic Adventure magazine ranked Jack-sonville as one of the “Top Six Beach Towns” in the United States. Jack-sonville also boasts more than 131 square miles of city, state and na-tional parks — making it the largest urban park system in the nation.
ABOUT JACKSONVILLE, FL
Colliers International is a leader in global real estate services, defined by our spirit of enterprise. Through a culture of service excellence, and a shared sense of initiative, we have integrated the resources of real estate specialists worldwide to accelerate the success of our clients.
Colliers International delivers real estate services globally through 16,000 specialized professionals in over 554 offices in 66 countries. Colliers provides advice for clients on approximately $112 billion in transactions annually and manages in two billion square feet with revenue reaching $2.5 billion.
Colliers professionals bring an intimate knowledge of local, regional and global office markets to every real estate assignment. Our brokers are experts at identifying creative ways to match commercial property environments with our client’s business needs. This depth of knowledge is built on years of cultivated relationships with tenants, landlords, investors, government agencies and lending institutions.
Whether you want to sell, relocate, renew, build, expand, or buy, Colliers real estate specialists have the market knowledge and industry relationships that can help you capitalize on market conditions and maximize value. By combining our core values with our market and negotiation expertise, we have established a proven formula for success that is evident in the volume of transactions we have completed.
ABOUT COLLIERS INTERNATIONAL
Colliers InternationalNortheast Florida
50 North Laura StreetSuite 1725Jacksonville, Florida 32202
