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EFFINGHAM, IL-Sherwin-Williams Co. has renewed its lease on a 1.2-million-sqaure-foot distribution facility here at 711 W. Wabash Ave. Executives with NAI Robert Lynn, who represented Sherwin-Williams in the transaction, believe this will be one of the largest industrial transactions to be completed in 2009.

Before renewing the current lease, NAI Robert Lynn executives searched in Illinois and Indiana for potential sites, even considering a number of build-to-suits. After weighing the options and receiving a number of incentives including facility improvements and economic incentives the company opted to stay in the current facility.

While the company originally had a strong desire to upgrade to a new facility, we were able to leverage all of the options available in the current economic environment to give Sherwin-Williams a significantly improved facility and millions of dollars in cost savings,” says Thomas Lynn, president of corporate services for NAI Robert Lynn.

The lease and its concessions will be a multi-million dollar savings for Sherwin-Williams. The deal has an aggregate value of more than $20 million. The exact lease terms were not released.

“Although the process showed new construction was not our best option for this situation, I was impressed that NAI was able to identify several parties who could do a build-to-suit for our unique use, in a tertiary market,” says Madeline Muser Hayes, Director of Corporate Real Estate at Sherwin-Williams.

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