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Chicago & Midwest  + Midwest  + Net Lease  | 

Sherwin Williams Distribution Center Fetches $58M

SRS Real Estate Partners’ National Net Lease Group (NNLG) completed the $58.2-million sale of a 1,283,360-square-foot industrial distribution property fully occupied by Sherwin Williams. The property is situated at 711 W. Wabash Ave. in Effingham, IL. 

SRS NNLG’s John Redfield, Britt Raymond and Kyle Fant represented the seller, a private partnership. The buyer, ExchangeRight, was represented by JRW Realty. 

“We selected a well-qualified buyer and met the seller’s goal of closing this transaction before year-end,” said Redfield. “With a corporate-guaranteed absolute net lease structure this strategically located, below replacement cost, industrial asset will be a great addition to the buyer’s industrial portion of its net lease portfolio.” 

This is the only facility that Sherwin Williams uses to distribute coatings for the automotive industry nationwide, making it a mission-critical site. Its centralized location provides the ability to reach a majority of the nation within a one day or less drive. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition