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307 North U.S. Highway 52 | Moncks Corner, SC 29461Asking Price: $1,435,549 | Cap Rate: 5.75%
Sherwin-Williams
OFFERING MEMORANDUM
Representative Photo
1
Michael [email protected]
02 04 PROPERTY
Property Details Maps & AerialsSite Plan
09 11 MARKET
Market OverviewDemographics
OFFERING
Executive Summary Investment Highlights
TENANT
Tenant Overview Lease Summary
Representative Photo
Page 2Market Overview
OFFERING
Executive Summary Investment Highlights
2
Atlantic Retail Investment Services is pleased to exclusively offer for sale a
located in Moncks Corner, South Carolina. This corporate-guaranteed lease offers investors the opportunity for long-term cash flow.
SHERWIN-WILLIAMS
Page 2Market Overview
Executive Summary
OFFERING
Investment Highlights
3
EASILY ACCESSIBLE RETAIL LOCATIONThe Property is strategically positioned near multiple signalized intersections and sees daily traffic counts in excess of 24,500 VPD.
FAST-GROWING COUNTY IN SOUTH CAROLINABerkeley County was the fastest-growing county in the state of South Carolina from 2010–2012, and is located minutes away from Downtown Charleston. The area is less than two (2) hours from the major tourist destinations of Myrtle Beach and Hilton Head.
QUALITY, LONG-TERM INVESTMENTThis corporate-guaranteed long-term lease features minimal landlord responsibilities and five (5) five-year options to extend with fixed rental increases within each individual option.
Maps & AerialsSite Plan
PROPERTY
Property Details
4
ADDRESS 307 North U.S. Highway 52Moncks Corner, SC 29461
TENANT The Sherwin-Williams Company
BUILDING +/- 5,021 ft2
LAND +/- 0.529 acres
YEAR BUILT 2017
PARCEL ID 143-01-02-033
SHERWIN-WILLIAMS
Representative Photo
N
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PROPERTY
Maps & Aerials
Property Details
Site Plan
BERKELEY MIDDLE SCHOOL
NO
RTH
U.S
. HIG
HW
AY 5
2NORTH LIVE OAK DRIVE
BERKELEY MOTELMONCKS CORNER
MEDICAL CENTER
DREAM MAKERS EVENT HALL
6
N
PROPERTY
Maps & Aerials
Property Details
Site Plan
BERKELEY MIDDLE SCHOOL
BERKELEY COUNTY LIBRARY
YMCA
ROPER HOSPITAL-BERKELEY
SOUTH CAROLINAPUBLIC SERVICES
AUTHORITY
MONCKS CORNER MEDICAL CENTER
MONCKS CORNER REGIONAL RECREATION
COMPLEX
BERKELEY ALTERNATIVE
SCHOOL
BERKELEY COUNTY SHERIFF’S OFFICE
GATES CORPORATION
BERKELEY HIGH
SCHOOL
EAST MAIN STREET
17,500 VPD
NORTH U.S. HIGHWAY 5224,500 VPD
NORTH LIVE OAK DRIVE7,900 VPD
7
N
PROPERTY
Maps & Aerials
PROPERTY
Property Details
Site Plan
CHARLESTON
NORTHCHARLESTON
1
32
4
56
7
89
10
NEARBY POINTS OF INTEREST1. Berkeley County Airport - 3.3 miles2. Charleston Southern University - 18.3 miles3. Trident Technical College - 20.1 miles4. Francis Marion National Forest - 20.6 miles5. North Charleston - 26.3 miles6. Charleston International Airport - 26.4 miles7. The Boeing Company - 26.7 miles8. South Carolina Aquarium - 33.0 miles9. Historic Charleston City Market - 33.4 miles10. Charleston - 33.4 miles
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Property DetailsMaps & Aerials
PROPERTY
Site Plan
NO
RTH
U.S
. HIG
HW
AY 5
2
24,5
00
VPD
Lease Summary
TENANT
Tenant Overview
9
PARENT COMPANY The Sherwin-Williams Company
NO. OF LOCATIONS 4,300+
CREDIT RATING Baa3/Stable (Moody’s)
STOCK SYMBOL NYSE: SHW
TYPE S&P 500 Component
FOUNDED 1866
HEADQUARTERS Cleveland, Ohio
Q2 2017 NET SALES $3.74 Billion
WEBSITE sherwin-williams.com
SHERWIN-WILLIAMS
For more than 150 years, SHERWIN-WILLIAMS (the “Company”) has been an industry leader in the development of technologically advanced paint and coatings. As the country’s largest specialty retailer of paint and painting supplies, Sherwin-Williams is dedicated to supporting both DIY painters and professionals alike with exceptional and exclusive products, resources to make confident color selections, and expert, personalized service at its more than 4,300 locations across North America.
Sherwin-Williams has won numerous awards and distinctions throughout its history, including being ranked “Highest in Customer Satisfaction” among paint retailers four years in a row in the J.D. Power 2016 Paint Satisfaction Study. The Company regularly opens one new store every three or four days, and has increased dividends annually since 1979.
With the recent acquisition of major competitor Valspar in late March 2016, Sherwin-Williams is not only an S&P 500 Component, but a global leader in paint and coatings. The combination of these two companies creates a world-class brand portfolio, expanded product range, and premier innovation and technology platforms with an extensive global footprint. During the second quarter of 2017, consolidated Company net sales increased 16 percent to a record $3.74 billion, and net sales from stores in the United States and Canada have increased by four percent.
SHERWIN-WILLIAMS
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TENANT
Lease Summary Tenant Overview
TENANT The Sherwin-Williams Company
ADDRESS 307 North U.S. Highway 52Moncks Corner, SC 29461
COUNTY Berkeley County
ASKING PRICE $1,435,549
CAP RATE 5.75%
BUILDING +/- 5,021 ft2
LAND SIZE +/- 0.529 acres
DELIVERY DATE February 1, 2018
LEASE TERM 10 Years
ANNUAL RENT $82,544.04 ($16.44/ft2)
OPTIONS 5 x 5-Year Options
OPTION INCREASES 8% Within Each Option
LEASE TYPE NN
LANDLORD Roof, Structure, and Parking Lot
TAXES $11,041.56 Annually
INSURANCE $3,804.00 Annually
SHERWIN-WILLIAMS
YEARS ANNUAL RENT INCREASE1–10 $82,544.04 ($16.44/ft2) N/A
11–15 (Option 1) $89,147.52 ($17.75/ft2) 8%
16–20 (Option 2) $96,279.36 ($19.18/ft2) 8%
21–25 (Option 3) $103,981.68 ($20.71/ft2) 8%
26–30 (Option 4) $112,300.20 ($22.37/ft2) 8%
31–35 (Option 5) $121,284.24 ($24.16/ft2) 8%
RENT SCHEDULE
Representative Photo
Demographics
MARKET
Market Overview
11
MONCKS CORNER IS HOME TO ABUNDANT OUTDOOR RECREATIONAL OPPORTUNITIES
Located in east central South Carolina, Moncks Corner is known for its old-fashioned hospitality, Southern charm, and its close proximity to Charleston, Lake
Moultrie, and the Francis Marion National Forest.
Demographics
MARKET
Market Overview
12
PRIME LOCATION FOR BUSINESS AND INDUSTRY EXPANSIONMany multi-national businesses have a significant presence within Berkeley County: Nucor Steel has
invested $200 million in its Berkeley Plant over the past five years, Google has spent more than $1.2 billion on its
Data Center since 2007, and Volvo broke ground on its first American factory in Berkeley in September 2015.
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Demographics
MARKET
Market Overview
BERKELEY COUNTY HAS EASY ACCESS TO CHARLESTONBerkeley County is the largest county in South Carolina,
and was the fastest growing in the state from 2010–2012. The county is included in the Charleston-North Charleston-
Summerville MSA, which has a population of nearly 700,000.
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES2017 Estimated Population 2,614 11,693 21,156
2022 Projected Population 2,877 12,920 23,477
2010 Census Population 2,497 11,026 19,305
2000 Census Population 2,278 10,322 16,196
Projected Annual Growth (2017–2022) 2.0% 2.1% 2.2%
Historical Annual Growth (2000–2017) 0.9% 0.8% 1.8%
2017 Estimated Households 979 4,347 7,775
2022 Projected Households 1,074 4,807 8,621
2010 Census Households 941 4,112 7,137
2000 Census Households 818 3,796 5,914
Projected Annual Growth (2017–2022) 1.9% 2.1% 2.2%
Historical Annual Growth (2000–2017) 1.2% 0.9% 1.9%
2017 Est. HH Income $200,000+ 2.4% 2.2% 2.2%
2017 Est. HH Income $150,000-$199,999 4.7% 2.8% 2.7%
2017 Est. HH Income $100,000–$149,999 11.7% 11.9% 13.8%
2017 Est. HH Income $75,000-$99,999 13.2% 9.5% 11.7%
2017 Est. HH Income $50,000–$74,999 18.7% 18.7% 18.9%
2017 Est. HH Income $35,000–$49,999 15.9% 14.3% 13.5%
2017 Est. HH Income $25,000–$34,999 8.5% 12.1% 11.4%
2017 Est. HH Income $15,000–$24,999 13.4% 15.0% 13.7%
2017 Est. HH Income Under $15,000 11.4% 13.4% 12.2%
2017 Est. Average Household Income $60,285 $58,441 $63,764
2017 Est. Median Household Income $54,354 $49,783 $53,205
POPU
LATI
ONIN
COM
E
DEMOGRAPHICS 1 MILE 3 MILES 5 MILES2017 Est. White 62.7% 56.6% 60.3%
2017 Est. Black 31.0% 38.3% 34.6%
2017 Est. Asianor Pacific Islander
0.8% 0.5% 0.6%
2017 Est. American Indian or Alaska Native
0.5% 0.5% 0.5%
2017 Est. Other Races 5.1% 4.2% 4.1%
2017 Est. HispanicPopulation
124 457 824
2017 Est. HispanicPopulation
4.8% 3.9% 3.9%
2022 ProjectedHispanic Population
5.4% 4.5% 4.4%
2010 HispanicPopulation
5.0% 3.9% 4.1%
RACE
The population within five (5) miles of the Property is 21,156, and the 2017 average household income is nearly $64,000.
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MARKET
DemographicsMarket Overview
15
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Atlantic Retail Investment Services and should not be made available to any other person or entity without the written consent of Atlantic Retail Investment Services. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Atlantic Retail Investment Services has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Atlantic Retail Investment Services has not verified, and will not verify, any of the information contained herein, nor has Atlantic Retail Investment Services conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
CONFIDENTIALITY & DISCLAIMER
Michael [email protected]
307 North U.S. Highway 52 | Moncks Corner, SC 29461Asking Price: $1,435,549 | Cap Rate: 5.75%
Sherwin-Williams
OFFERING MEMORANDUM
Representative Photo