SRS Announces $133M Sale of a Single-Tenant Industrial Property Occupied by Sherwin-Williams in Winter Haven, Florida

SRS completes the $133 million sale of a 685,000-sf industrial property fully occupied by Sherwin-Williams at 400 Winter Haven Boulevard in Winter Haven, FL.

WINTER HAVEN, FL, UNITED STATES, October 22, 2026 /EINPresswire.com/ — SRS Real Estate Partners has 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.

SRS Capital Markets Senior Vice President and Principal John Redfield represented the seller, a private owner based in New Jersey. SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther represented the buyer, an East Coast-based private family-owned diversified company with interests in real estate and agriculture. 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.

“The transaction represents the culmination of more than two years of collaboration and advisory work involving multiple parties and multiple financing components. We collaborated on a new credit tenant lease (CTL) zero cash flow financing with the seller’s advisor and PGIM which was ideal for the buyer’s 1031 exchange and helped maximize the seller’s sale proceeds,” said Redfield.

In connection with the transaction, the SRS team advised on the simultaneous placement of debt, subsequent loan assumption, execution of a zero cash flow paydown and a secondary loan, with SRS advising on the highly structured debt strategy from its inception through closing.

Adding another layer of complexity, the property was placed under contract as a presale prior to the tenant receiving its certificate of occupancy. Despite a significant run-up in Treasury rates leading into the closing, the SRS team successfully executed the financing and brought the transaction to completion.

“This transaction is a tremendous example of what can be accomplished through collaboration, creativity and disciplined execution,” said Mousavi. “This was not simply a single-asset sale, it was the result of a multi-year advisory effort. Being able to navigate each component and ultimately deliver a successful outcome for our clients is a testament to the strength of the team and the value of comprehensive services we provide our clients. We congratulate all parties involved on this successful outcome.”

Situated near major highways and with convenient access to Interstate 4, the facility provides efficient connections to major markets throughout Florida, supporting the movement of goods and reinforcing Winter Haven’s position as an increasingly important distribution and logistics hub. Continued economic development and investment in the area, including the expansion of facilities such as the Sherwin-Williams operation, are contributing to business growth and local employment opportunities.

This year, SRS Capital Markets has completed more than $2.5 billion in deal volume comprised of more than 500 transactions across the nation. SRS currently has in excess of 900 properties actively on the market with a market value surpassing $4.3 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.

Tracy Cobb
SRS Real Estate Partners
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