- Available Spaces
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Marcus & Millichap is pleased to present this two-tenant, 15,000-square foot property located in Decatur, Illinois. The property contains two... show more »View Details
796 East Wood Street is aretail property for lease in Decatur, IL. The property currently has 1 retail space for lease and is marketed by .
Marcus & Millichap is pleased to present this two-tenant, 15,000-square foot property located in Decatur, Illinois. The property contains two credit tenants with corporate guarantees and long-term historical occupancy, Sherwin Williams and DaVita Dialysis.
The subject property has a strong tenancy history. Sherwin Williams has been at this location since 1967 and DaVita Dialysis has been a tenant since 1999. DaVita Dialysis just signed a brand new 10-year lease with increases every five years and two five-year options and this month Sherwin Williams signed a new five year lease with one, five-year option.
This property is a rare 'HUB' store for Sherwin Williams, where they have a portion of the store dedicated to retail and a portion for warehousing parts for wholesale and distribution. 'HUB' stores are built in specific areas to act as both a retail store and distribution hub for surrounding stores.
The subject property is located in a retail dense area near the heart of downtown Decatur. Decatur is located in central Illinois, three hours south of Chicago. It offers superb demographics with a population of 83,000 in a five-mile radius and an average household income of $53,000.
This asset is a great opportunity for an investor looking for a stable asset with a great return. It boasts two credit tenants with corporate guarantees, rental increases, and strong historical occupancy.
Sherwin-Williams maintains a stable investment grade credit rating of "A" on the Standard & Poor’s. Sherwin Williams has reached agreement to acquire competitor Valspar for $9.3 billion. With 4,000 plus locations, Fortune 500 Company Sherwin-Williams is publicly traded on the NYSE under the symbol "SHW". Corporate sales have increased 11.3 percent to $11.34 billion in past 24 months.
On October 5, 2005, DaVita completed their acquisition of DVA Renal Healthcare, Incorporated from Gambro, Incorporated under a stock purchase agreement dated December 6, 2004, for $3.06 billion. DVA Renal Healthcare was one of the largest dialysis service providers in the United States, operating 566 outpatient dialysis centers serving approximately 43,000 patients and generating annual revenues of approximately $2 billion. The operating results of DVA Renal Healthcare are included in our consolidated financial statements from October 1, 2005. DVA Renal Healthcare, Incorporated is a subsidiary of DaVita (DVA).
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