SRS Real Estate Partners completed the $133 million sale of a 685,000-square-foot industrial property fully occupied by Sherwin-Williams at 400 Winter Haven Boulevard in Winter Haven, FL. Situated on just under 40 acres, the property serves as a major distribution center for Sherwin-Williams and has a corporate-guaranteed triple-net lease with a new long-term extension. The seller was Paul Profeta.
SRS’s John Redfield represented Profeta. The acquisition was part of the buyer’s broader 1031 exchange strategy, for which SRS was instrumental in placing a significant portion of the proceeds.
Originally constructed in 1992, the property completed a significant expansion this year, adding new buildings and office space to enhance the facility’s operational capacity. Sherwin-Williams uses the property for the storage and distribution of paint and related products…