February 16, 2024 – Zach Smith of Horvath & Tremblay has successfully completed the sale of Sherwin Williams in Peoria, Illinois. Horvath & Tremblay exclusively represented the Buyer to complete the transaction at a sale price of $925,000.
Sherwin Williams is located at 518 E War Memorial Drive in Peoria, Illinois. The stand-alone building was constructed in 1958, updated in 2008, and consists of 5,600 square feet on a 0.51-acre lot. Sherwin Williams has 3+ years remaining on a double net (NN) lease with one (1), 5-year renewal option. The corporate lease calls for an attractive 10% rent increase at the start of the renewal option. The Property is exceptionally well located along E War Memorial Drive (US Highway 150), the area’s primary commercial and commuter corridor. The Property enjoys convenient access to IL Route 40 and Interstate 74 and is 3-miles from Downtown Peoria. The area is home to numerous national retailers and restaurants that drive traffic to the area, and densely developed residential neighborhoods that provide a built-in customer base.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.