Stan Johnson Company Arranges Sale of Net Lease Retail Property Leased to Sherwin-Williams for Record Cap Rate in Midwest

Sherwin-Williams-Bennett

Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a retail property located at 1216 South 1st Street in Milwaukee, Wisconsin. The 3,500-square-foot property is occupied by Sherwin-Williams on a long-term triple net lease. Blaise Bennett of Stan Johnson Company represented the seller, a Wisconsin-based developer. The asset was acquired by a Texas-based private equity group, for approximately $2.4 million, reflecting a 5.15 percent cap rate, which sets a new record for the tenant in the Midwest.

“We saw an incredible amount of interest in the property, primarily due to its urban infill location, strong tenant credit profile and proximity to the neighboring grocery-anchored shopping center,” said Bennett, Associate Director in Stan Johnson Company’s Chicago, Illinois office.

The property was built in 2018 on 0.60 acres and is an outparcel to Freshwater Plaza, an award-winning mixed-use development in the highly desirable Walker’s Point/Harbor District area of Milwaukee.

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About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.