JRW Realty is pleased to announce that it has closed on the transaction of a 1,283,360-square-foot single-tenant distribution center in Effingham, Illinois. The property is tenanted by Sherwin-Williams, a national investment-grade corporation that manufactures and distributes building materials such as paints and coatings to professional and retail customers across the country.
JRW Realty analyst Nathan Webb facilitated the transaction of the property under the guidance of Joel Staffilino, president of multi-tenant retail. SRS National Net Lease Group represented the seller in the transaction.
“This acquisition marks a significant expansion in our sourcing property from the industrial market on behalf of our clients,” said Joel Staffilino, president of multi-tenant retail. “Facilitating the addition of this distribution center materially expands our client’s footprint in the industrial asset class while staying true to their roots of focusing on properties backed by creditworthy and essential businesses. Distribution centers have become vital to retailers as e-commerce and traditional brick-and-mortar retail continues to evolve. We’re increasingly seeing traditional retail locations and retail logistics locations become dependent on one another. We look forward to sourcing additional properties that support necessity-based operators on the distribution side as well as the retail side to provide our clients with opportunities that align with their acquisition strategy.”
The property meets the acquisition criteria of JRW Realty’s buyers, who have a strong appetite for acquiring grocery-anchored multi-tenant shopping centers and individual net-leased properties backed by essential businesses with creditworthy metrics. JRW Realty’s streamlined closing processes enables its team to close transactions in as short as 28 days after going under contract, and the firm’s relationship-based approach to net lease real estate has enabled JRW Realty to source over 15 million square feet of property for its clients.