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Big 5 Sporting Goods 910 S Burlington Blvd

14,955 SF 100% Leased Retail Building Burlington, WA 98233 $4,150,000 ($277.50/SF) 6.56% Cap Rate

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EXECUTIVE SUMMARY

This two-tenant center is occupied by Sherwin-Williams and Big 5 Sporting Goods on long-term leases. Sherwin-Williams recently signed a new, 10-year lease and Big 5 exercised a 5-year extension option to their original primary lease term that started in 1994. The Sherwin-Williams Company (NYSE: "SHW"), ranked #175 on the Fortune 500 list, has signed a new 10-year net lease to a strong and growing corporate tenant. The lease includes scheduled rental increases in the option periods. Rated "BBB" by Standard & Poor's, Sherwin-Williams has demonstrated robust financial performance, growing its EPS by 11% per year over the last three years.
Big 5 Sporting Goods, a publicly traded company on Nasdaq under the ticker BGFV, has been the original tenant of the building since its construction in 1994. Recently, Big 5 executed a 5-year renewal at the market lease rate, reinforcing its long-term commitment to the location.
Situated on Burlington Blvd, the primary north/south commercial arterial, this hard corner location boasts traffic counts exceeding 22,000 cars daily. It offers multiple ingress and egress points and is a pad site to a busy Fred Meyer Center.

PROPERTY FACTS

Sale Type

Investment NNN

Sale Condition

1031 Exchange

Property Type

Retail

Property Subtype

Freestanding

Building Size

14,955 SF

Building Class

Year Built

1995

Price

$4,150,000

Price Per SF

$277.50

Cap Rate

6.56%

NOI

$272,064

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.37

Lot Size

0.92 AC

Parking

44 Spaces (2.94 Spaces per 1,000 SF Leased)

Retailer
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Jan 0000

The Sherwin-Williams Company delivers the best in paint and coatings products to the world. Every day, their employees provide the energy and experience to build on their track record of success – enabling them to innovate and grow in new and exciting ways. With their people as the foundation of their Company, they offer industry-leading innovation, value-added service and expertise, and differentiated distribution to their growing base of professional, industrial, commercial and consumer customers. Sherwin-Williams has one of the industry’s most recognized portfolios of branded and private-label products. The Company’s Sherwin-Williams® branded products are sold exclusively through a chain of company operated stores and facilities in the United States, Canada, the Caribbean and Latin America.