Sherwin-Williams TENANT OVERVIEW

Net Lease Advisor Tenant Sherwin Williams


  • Investment grade tenant
  • Corporate guaranty
  • Low price point


  • Short-term leases
  • Some NN leases holds landlord responsible for roof and structure

Earnings Highlights

Earnings Summary
  • Consolidated net sales for the year increased 17.0% to a record $17.53 B
  • Net sales from stores in U.S. and Canada open more than twelve calendar months increased 5.1% in the year
  • Full year net operating cash increased $151.2 M to a record $2.04 B

Tenant Description

Sherwin-Williams is best known as retailer of paints and primers.

Sherwin-Williams is an attractive net lease asset for many investors who are seeking a lower price point but still want a high credit grade tenant.

The Sherwin-Williams Company, founded by Henry Sherwin and Edward Williams in 1866. Today, the company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products to professional, industrial, commercial and retail customers primarily in North and South America with additional operations in the Caribbean region, Europe and Asia.

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 over 4,696 paint stores.

Average Cap Rate
12 mo avg with 10+ yr lease term
Average Property & Lease
Average Sale Price $1,843,064
NOI $113,717
$/Square Foot $325 - $500
Building SF 4,000 - 6,000
Lot Size 0.5 - 1.0 Acres
Lease Term 10 Years
Escalations 8-12% in Options
Stock Symbol SHW
Credit Rating
Moody's Baa3
Average Cap Rate Trend
Rates reflect last 12 mos, short and long-term
Recent Sales Comps
North Las Vegas, NV 5.07%
Haines City, FL 6.74%
Brunswick, OH 6.89%