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Marcus & Millichap Arranges $19M Sale of Midwest Sherwin-Williams Portfolio
Marcus & Millichap completed the sale of an 11-property Sherwin-Williams portfolio in Minnesota, North Dakota and South Dakota. The portfolio sold for $18.74 million.
“Prior to our marketing efforts, we assisted the seller in securing rare 15-year lease extensions with Sherwin-Williams across the entire portfolio, creating a unique opportunity to attract a broad pool of investors,” said Dominic Sulo, senior managing director investments. “Ultimately, the seller selected a proven buyer with a track record of execution to bring the transaction to a successful close.”
Sulo, investment specialist in Marcus & Millichap’s Chicago Oak Brook office, in association with Jon Ruzicka, Marcus & Millichap’s Minnesota, North Dakota and South Dakota broker of record, had the exclusive listing to market the property on behalf of the repeat Minnesota private seller, and procured the Michigan-based institutional buyer. The Sherwin-Williams portfolio totals approximately 55,590 rentable square feet.
