Investment Grade Credit Tenant (NYSE: SHW | S&P BBB)
– Sherwin-Williams is a global company with over 5,400 stores and branches and 64,000 employees.
– Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paints, coatings and related products to professional, industrial, commercial, and retail customers.
– Sherwin-Williams reported revenues of $23.1 billion in 2024, marking its 14th consecutive year of sales growth.
– Sherwin-Williams ranks 176th on the Fortune 500 List.
Brand New 15 Year Lease Extension with Strong Rental Increases
– Sherwin-Williams recently signed a new 15 Year Lease commencing August 1, 2025, displaying their long-term commitment to this location.
– The Lease offers a strong hedge against inflation with 10% rent increases scheduled every 5 years throughout the base term and option period.
25+ Year Operating History in Regional Trade Hub
– Bemidji serves as the largest commercial center between Grand Forks and Duluth, offering a robust draw of consumers and businesses. Its metro-area population is over 46,000 with a regional reach approaching 200,000 residents.
– The presence of Bemidji State University, healthcare institutions like Sanford Health (the largest local employer at roughly 2,200 employees), and public sector employment fosters stable economic drivers.
Outparcel to Home Depot in Main Commercial Thoroughfares
– The subject property is positioned directly adjacent to Home Depot, one of the most trafficked big box retailers in the U.S.
– Sherwin-Williams’ business aligns perfectly with Home Depot’s home improvement traffic base.
– Located near major thoroughfares including U.S. Route 2, U.S. Route 71, and State Highway 197 ensuring first-rate access and visibility in northern Minnesota.
