SHERWIN-WILLIAMS (NEW CONSTRUCTION - APRIL 2020)
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R E P R ES E N TATI VE P HOTO
CONFIDENTIAL OFFERING MEMORANDUM
SHERWIN -W I LLI A MS (N E W CONSTRU CTION - A PR IL 2020)
R LAS
EPRES EVE GIAS
N TAT V E P,HNV
OTO
DIS CLAIMER
This confidential Offering Memorandum, has been prepared by JDS Real representations and warranties contained in, or for any omissions from, the
Estate Services, Inc (“JDS Real Estate Services”) for use by a limited number Offering Memorandum and for any other written or oral communication
of qualified parties. This Offering Memorandum has been provided to you transmitted or made available to you. JDS Real Estate Services shall make
at your request based upon your assurances that you are a knowledgeable available to you, as a qualified prospective investor, additional information
and sophisticated investor in commercial real estate projects and concerning the Property and an opportunity to inspect the Property upon
developments. JDS Real Estate Services recommends you, as a potential written request.
buyer/investor, should perform your own independent examination and
inspection of the property described herein as Sherwin-Williams (the This Offering Memorandum and the contents are intended to remain
“Property”) and of all of the information provided herein related to the confidential except for such information which is in the public domain or is
Property. By accepting this Offering Memorandum, you acknowledge otherwise available to the public. By accepting this Offering Memorandum,
and agree that you shall rely solely upon your own examination and you agree that you will hold and treat Offering Memorandum in the strictest
investigation of the Property and you shall not rely on any statements confidence, that you will not photocopy or duplicate it, or distribute it. You
made in this Offering Memorandum or upon any other materials, agree you will not disclose this Offering Memorandum or its contents to
statements or information provided by JDS Real Estate Services or its any other person or entity, except to outside advisors retained by you and
brokers. from whom you have obtained an agreement of confidentiality, without the
prior written authorization of JDS Real Estate Services. You agree that you
JDS Real Estate Services makes no guarantee, warranty or representation will use the information in this Offering Memorandum for the sole purpose
about the completeness or accuracy of the information set forth in this of evaluating your interest in the Property. If you determine you have no
Offering Memorandum. You are responsible to independently verify its interest in the property, kindly return the Offering Memorandum to JDS Real
accuracy and completeness. JDS Real Estate Services has prepared the Estate Services at your earliest convenience.
information concerning the Property based upon assumptions relating
to the general economy, its knowledge of other similar properties in the
market, and on other market assumptions including factors beyond the
control of the JDS Real Estate Services and the Owner of the Property. JDS
Real Estate Services makes no representation or warranty as to either the
accuracy or completeness of the information contained herein, and the
information set forth in this Offering Memorandum in not intended to be
a promise or representation as to the future performance of the Property.
Although the information contained herein is believed to be accurate, JDS
Real Estate Services and the Property Owner disclaim any responsibility
or liability for any inaccuracies. Further, JDS Real Estate Services and the
Property Owner disclaim any and all liability for any express or implied
TA B LE O F C O N T E N T S
JDS REAL ESTATE SERVICES, INC
INVESTMENT HIGHLIGHTS
INVESTMENT OVERVIEW
AERIAL
JENNIFER STEIN
PROPERTY RENDERINGS Real Estate Broker
NV Lic. No. Brok.1001185.corp
213.446.5366
SITE PLAN sherwinwilliams@jdsreservices.com
MAPS & DEMOS
LO C AT I O N OV E RV I E W 1 2 3 1 P U E RTA D E L S O L , ST E 1 0 0
SAN CLEMENTE, CA 92673
JDSRESERVICES.COM
TENANT OVERVIEW
SHERWIN-WILLIAMS | LAS VEGAS, NV 4
INVESTMENT
HIGHLIGHTS
• Located in Las Vegas, an internationally renowned major resort city
• Long-term net lease with 10 years remaining
• Brand new construction build-to-suit (opening in April 2020)
• Corporate lease to an investment grade rated company (S&P: BBB)
• 10% rental increases every five years in the primary term and renewal options
• Outparcel to an Albertson’s grocery-anchored development
• Densely populated area with over 100,000 people living within a three-mile radius and
projected annual population growth in excess of 2.5%
• Nevada is an income tax free state
• Approximately 15 miles north of the famous Las Vegas Strip
• Retailers in the immediate trade area include Lowe’s, Walgreens, CVS, Sprouts, Alberton’s,
Bank of America, Starbucks, McDonald’s, and many others
• Positioned just north of the heavily trafficked signalized intersection of North Durango Drive
and Farm Road (47K VPD)
• Average annual household incomes of approximately $100,000 within a five-mile radius
SHERWIN-WILLIAMS | LAS VEGAS, NV 5
INVESTMENT
OVERVIEW 8470 Farm Road,
Las Vegas, NV 89131
PURCHASE PRICE TENANT
$3,640,000 The Sherwin-Williams Company
C A P R AT E C R E D I T R AT I N G
4.85% Investment Grade (S&P: BBB)
N E T O P E R AT I N G I N C O M E LEASE TYPE
$176,499.96 NN (Roof, Structure & Parking Lot)
R E N T C O M M E N C E M E N T D AT E BUILDING SIZE
April 1, 2020 (Estimated) 4,497 SF
L E A S E E X P I R AT I O N LAND SIZE
April 30, 2030 (Estimated) .77 Acres
R E N TA L E S C A L AT I O N S Y E A R B U I LT
10% Every Five Years 2020
R E N E WA L O P T I O N S
Four 5-Year
NOI SCHEDULE
Years NOI Period Increase Cap Rate
1-5 $176,499.96 Primary Term - 4.85%
6-10 $194,149.92 Primary Term 10% 5.33%
11-15 $213,564.96 Option 1 10% 5.87%
16-20 $234,921.48 Option 2 10% 6.45%
21-25 $258,413.64 Option 3 10% 7.10%
26-30 $284,254.92 Option 4 10% 7.81%
SHERWIN-WILLIAMS | LAS VEGAS, NV 6
AERIAL
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The Village of
Centennial Springs
Palacio Apartments
Sandra Lee Thompson
Elementary
Centennial Hills
Park & Ride
SHERWIN-WILLIAMS | LAS VEGAS, NV 7 RENDERINGS SOUTHEAST ELEVATION - STOREFRONT FACING PARKING SOUTHEAST ELEVATION - SIDE NORTHWEST ELEVATION - REAR FACING DURANGO DRIVE NORTHEAST ELEVATION - SIDE
SHERWIN-WILLIAMS | LAS VEGAS, NV 8
SITE P L A N
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SHERWIN-WILLIAMS | LAS VEGAS, NV 9
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Tule Springs Road
SHERWIN-WILLIAMS | LAS VEGAS, NV 10
DEMOGRAPHICS
& MAP 3-Mile
AREA DEMOGRAPHICS
5-Mile
TOTAL POPULATION
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
1 mile 25,803
3 mile 100,438
5 mile 186,155
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
TOTAL HOUSEHOLDS
1 mile 9,024
3 mile 35,521 Las Vegas Strip
5 mile 65,140
PROJECTED ANNUAL POPULATION
GROWTH (2019-2024)
1 mile 1.95%
3 mile 2.55%
5 mile 2.18%
POPULATION RESIDENTIAL COUNT AVERAGE HH INCOME
AVERAGE HH INCOME
1 mile $80,180
3 mile $95,276
5 mile $98,121SHERWIN-WILLIAMS | LAS VEGAS, NV 11
MAP & D I S T A N C E
Las Vegas Motor Speedway (18 miles)
Mount Charleston (24 miles)
Nellis Air Force Base (19 miles)
Downtown (16 miles)
The Strip (20 miles)
McCarran International
Airport (23 miles)SHERWIN-WILLIAMS | LAS VEGAS, NV 12
LOCATION
42.1 Million
OVERVIEW 2018 Visitors
LAS VEGAS is the 28th-most populated city in the United 661,824
States, the most populated city in the state of Nevada, and Las Vegas Residents
the county seat of Clark County. The city anchors the Las
Vegas Valley metropolitan area and is the largest city within
the greater Mojave Desert. Las Vegas is an internationally
renowned major resort city, known primarily for its gambling,
shopping, fine dining, entertainment, and nightlife. The Las
19,821
Vegas Valley, as a whole, serves as the leading financial, Businesses in Las Vegas,
commercial, and cultural center for Nevada. including 68% new businesses
formed over the last 12 months
The city bills itself as The Entertainment Capital of the World
and is famous for its mega casino–hotels and associated
activities. It is a top three destination in the United States for
business conventions and a global leader in the hospitality
industry, claiming more AAA Five Diamond hotels than any
$3.95 Billion*
other city in the world. Today, Las Vegas annually ranks as Taxable Retail Sales
one of the world's most visited tourist destinations. in Las Vegas
*Up 6.7% over the past 12 months
3.7%
Unemployment Rate
in Las Vegas
35.9
Median Age in Las VegasSHERWIN-WILLIAMS | LAS VEGAS, NV 13
LOCATION
OVERVIEW
The Vegas Golden Knights of the National Hockey League be-
came the first major professional sports team to call Las Vegas
home in 2017. In their inaugural season, they went to the Stanley
Cup Finals. They play at the T-Mobile arena and have filled the
stadium to 103.9%, 105.5%, and 105.3% capacity in each of their
first three seasons. T-Mobile Arena is a multi-purpose indoor
arena on the Las Vegas Strip. Aside from the Golden Knights,
T-Mobile Arena has primarily been used for entertainment events
such as concerts, and has been booked for mixed martial arts Las Vegas Knights
and professional boxing events, as well as other annual sporting
T-Mobile Arena
events.
The Oakland Raiders of the National Football League are relo-
cating to Las Vegas and will play their inaugural season in 2020,
becoming the region’s third professional sports team. The Las
Vegas Raiders will play at Allegiant Stadium, a $1.8 billion stadi-
um that is located along Interstate 25, just west of the Mandalay
Bay Hotel.
Las Vegas Raiders
Allegiant StadiumSHERWIN-WILLIAMS | LAS VEGAS, NV 14
LOCATION CLARK COUNTY is the 14th largest county in the United States and is home to more
than $2.3 million people. It is by far the most populous county in Nevada, accounting
for nearly three-quarters of the state’s residents – thus making Nevada one of the most
OVERVIEW centralized states in the United States. Over 45 million people visit Clark County per year.
The state of Nevada divides the state into several gaming districts. The reporting districts
affecting Clark County are:
North Las Vegas:
This region has 11 casinos and include the Fiesta Rancho, Texas Station, Jerry’s Nugget,
and the Santa Fe Station.
Boulder Strip:
2,325,798
This region includes 33 casinos on Boulder Highway. Casinos within the Henderson city
Clark County Residents
limits are included as well, such as Green Valley Ranch, Sunset Station, Fiesta, Eldorado,
and Jokers Wild.
LV Strip:
This region is composed of all the casinos on Las Vegas Boulevard, from The Stratosphere
$10.25 Billion at the north end to Mandalay Bay on the south end. Also included are resorts near this
2018 Clark County area, such as The Rio, South Point, and the Hard Rock, and McCarran Airport.
Gaming Revenue Downtown:
There are 19 casinos in this reporting area.
Laughlin:
The casinos in Laughlin.
Mesquite:
The casinos in Mesquite.
Balance of County:
There are 66 casinos in this category that includes casinos at Lake Las Vegas, Jean,
Primm, the Railroad Pass and Hacienda casinos, along with other casinos that don’t fit any
other category such as Arizona Charlie’s Decatur, Gold Coast, The Orleans, The Palms,
Suncoast, Rampart, and Red Rock Resort Spa and Casino.SHERWIN-WILLIAMS | LAS VEGAS, NV 15
TENANT
OVERVIEW
THE SHERWIN-WILLIAMS COMPANY is an American Fortune
500 company that develops, manufactures, distributes and sells pains,
coatings and related products to professional, industrial, commercial
and retail customers primarily located in North and South America, the
Caribbean, Europe, Asia and Australia. In June 2017, Sherwin-Williams
acquired Valspar for approximately $9 billion.
Websi t e: www.sherwin-williams.com
The company operates in three segments: The Americas Group, C r ed i t Rat i ng: Investment Grade (S&P: BBB)
Consumer Brands Group, and Performance Coatings Group. The
Americas Group segment offers architectural paint and coatings, Stoc k Sym bol : NYSE: SHW
protective and marine products, as well as OEM product finishes and
M a r ket C a p i t a l i z at io n: $53 Billion
related products through dealers, home centers, distributors, hardware
stores, and other retailers. The Consumer Brands Group segment Num ber of Loc at i o ns: 4,900
provides architectural paints, stains, varnishes, industrial products,
H ea d q ua r t ers: Cleveland, OH
wood finish products, wood preservatives, applicators, corrosion
inhibitors, aerosols, caulks, and adhesives. The Performance Coatings Yea r Found ed : 1866
Group segment offers industrial coatings for wood finishing and
general industrial applications, automotive refinish products, protective
and marine coatings, coil and packaging coatings, and performance-
based resins and colorants; and specialty coatings through direct sales
staff and outside sales representatives to retailers, dealers, jobbers,
licensees, and other third party distributors.
Sherwin-Williams was founded by Henry Sherwin and Edward
Williams in 1866 in Cleveland where the company is presently
headquartered. Today they have approximately 4,900 company-
operated specialty paint stores.
Sherwin-Williams is an investment grade rated company with a
Standard & Poor’s rating of BBB. The company is publicly traded on
the New York Stock Exchange (SHW) with a market capitalization in
excess of $53 billion.RE PRES ENTAT I V E P H OTO
JDS REAL ESTATE SERVICES, INC
JENNIFER STEIN 1 2 3 1 P U E RTA D E L S O L , ST E 1 0 0
Real Estate Broker SAN CLEMENTE, CA 92673
NV Lic. No. Brok.1001185.corp JDSRESERVICES.COM
213.446.5366
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