SRS closes $133M sale of Sherwin-Williams industrial facility in Winter Haven

SRS Real Estate Partners completed a $133 million sale of a 685,000-square-foot industrial property occupied by Sherwin-Williams in Winter Haven, Florida, on Oct. 22, 2026. The deal underscores continued demand for large logistics assets and involved a structured financing process tied to the buyer’s 1031 exchange strategy.

Why it matters: - The $133 million transaction reflects ongoing investor demand for large, single-tenant industrial assets with long-term lease security. - The deal also shows how complex financing can help close high-value industrial sales while supporting a buyer’s tax-driven 1031 exchange strategy. - The Winter Haven site adds to a logistics corridor that serves distribution across Florida.

What happened: - SRS Real Estate Partners completed the sale of a 685,000-square-foot industrial property at 400 Winter Haven Boulevard in Winter Haven, Florida. - Sherwin-Williams fully occupies the property. - The asset sits on just under 40 acres. - The property sold for $133 million. - The buyer is an East Coast-based private family-owned diversified company with interests in real estate and agriculture. - The seller was a private owner based in New Jersey.

The details: - The property serves as a major distribution center for Sherwin-Williams. - The lease includes a corporate guarantee and a new long-term extension. - The building was originally constructed in 1992. - The site completed a major expansion this year, adding new buildings and office space. - Sherwin-Williams uses the property to store and distribute paint and related products. - SRS Capital Markets Senior Vice President and Principal John Redfield represented the seller. - SRS Capital Markets Senior Managing Principals Matthew Mousavi and Patrick Luther represented the buyer. - The acquisition was part of the buyer’s broader 1031 exchange strategy. - SRS placed a significant portion of the proceeds tied to that exchange. - The transaction involved a new credit tenant lease, or CTL, zero cash flow financing structure with PGIM and the seller’s advisor. - SRS advised on the structured debt strategy from inception through closing. - The financing work included simultaneous placement of debt, a subsequent loan assumption, a zero cash flow paydown, and a secondary loan. - The property was placed under contract as a presale before the tenant received its certificate of occupancy. - Treasury rates rose materially before closing, but the financing was executed and the deal closed.

Between the lines: - The transaction was not a simple property sale. It required coordination across financing, underwriting, and tax planning. - The long-term lease and corporate guarantee likely made the asset more attractive to a broad set of investors seeking stable income. - Winter Haven continues to strengthen as a distribution and logistics hub because of its highway access and proximity to Interstate 4. - The expansion of the Sherwin-Williams facility fits a broader pattern of business investment and employment growth in the area. - SRS is using capital markets work to compete on more than brokerage alone, especially for complex industrial deals.

What’s next: - SRS said it has completed more than $2.5 billion in deal volume this year across more than 500 transactions nationwide. - The firm said it currently has more than 900 properties on the market with a combined value above $4.3 billion. - SRS Real Estate Partners, founded in 1986, is marking 40 years in business. - The company said it will continue providing retail, industrial and capital markets services from its Dallas headquarters and 30 offices nationwide.

The bottom line: - The Winter Haven sale shows that large, tenant-anchored industrial properties remain financeable and highly marketable when the lease, location and capital structure line up.