Ground + Space today announced the sale of a Sherwin-Williams property in Gainesville, Florida. Michael Zimmerman exclusively marketed the property, which sold within two percent of the asking price in a 1031 transaction to an individual investor. This listing garnered multiple offers thanks to the property’s strong corporate guarantee and new construction within the larger Markets West master-planned development.
This property is a prime example of a stable, COVID-safe asset that requires minimal landlord maintenance. The NNN lease features a corporate guarantee and scheduled rental increases within each of the six extension periods. The Sherwin-Williams site has excellent visibility within one of Gainesville’s most densely populated residential districts. Centrally located between Newberry Road and Archer Road, the site has easy access to many nearby national retailers and restaurants, as well as busy Interstate 75.
Gainesville itself serves as the cultural, educational and commercial center of the North Central Florida region. Midway between Miami, Florida and Atlanta, Georgia, Gainesville has become a global business destination, attracting investment from around the world. As the home base for the University of Florida—one of the top research institutions in the nation—the Gainesville region offers numerous business advantages for companies both large and small.
About Ground + Space
Ground + Space is a net lease brokerage firm that leads with an emphasis on personalized relationships. Michael Zimmerman and team have curated a brokerage firm and investment sales platform focused on boutique amenities and down-to-earth service. During these uncertain times, Ground + Space remains dedicated to providing best-in-class services and results to our clients. We have several listings available featuring retailers that are in a prime position to succeed in a post-pandemic economy. Contact us today to find out more!