Sherwin‑Williams
Investment-grade (BBB) paint maker and retailer that keeps opening ~80-100 stores a year. Small-box leases are typically 10-year NN with options; corporate guarantee and high renewal rates make these steady small-cap-size deals.
- US units
- 4,800
- 2025 (approx.; Paint Stores Group, US-centric)
- 3Y net growth
- +3.8%
- vs. FY2022 (approx.)
- Credit rating
- BBB
- Investment grade
- Typical term
- 10 yr
- NN (roof & structure landlord)
- Model
- Corporate
- Public
Unit count
Sherwin-Williams in the news
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Sherwin-Williams net lease FAQ
What is Sherwin-Williams's credit rating?
Sherwin-Williams is rated BBB, which is investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Sherwin-Williams locations are there in the US?
Sherwin-Williams reported about 4,800 US locations as of 2025 (approx.; Paint Stores Group, US-centric). That is +3.8% versus 4,626 in FY2022 (approx.).
What does a typical Sherwin-Williams net lease look like?
Lease type: NN (roof & structure landlord). Initial term: 10 yr. Rent increases: ~10% at options. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Sherwin-Williams corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.