WINTER HAVEN, FLA. — SRS Real Estate Partners has arranged the $133 million sale of a 685,000-square-foot, single-tenant industrial property in Winter Haven occupied by Sherwin-Willaims. Situated on nearly 40 acres about 46 miles south of Orlando, the property serves as a major distribution center for Sherwin-Williams, which operates on a corporate-guaranteed triple-net lease with a new long-term extension option. Sherwin-Williams uses the property for the storage and distribution of paint and related products.
John Redfield of SRS represented the seller, a New Jersey-based private owner. Matthew Mousavi and Patrick Luther, also with SRS, represented the buyer, an East Coast-based, family-owned company with interests in real estate and agriculture. Both parties requested anonymity. SRS also managed the multi-loan financing strategy for the property.
Originally constructed in 1992, the industrial property underwent a significant expansion this year, adding new buildings and office space to enhance the facility’s operational capacity.