Sentinel Net Lease has closed on the acquisition of Bannockburn Corporate Center, a 213,216-square-foot Class A office building located in Bannockburn, IL for $28.55 million. The property serves as the headquarters office for Option Care and Donlen and hosts a small roster of other institutional caliber tenants. Located at 3000 Lakeside Dr., the building was completed in 2001 and renovated in 2018; it is currently 91.5% leased to a diverse tenant base with an average lease term remaining of more than five years.
Dennis Cisterna III, Chief Investment Officer (CIO) at Sentinel commented that due to changing market conditions certain investors have vacated office investments entirely regardless of supporting fundamentals or particular markets/buildings; this has opened up opportunities for Sentinel to strategically expand their portfolio with less competition than normal when acquiring properties such as Bannockburn Corporate Center – their 17th acquisition since 2020 and fourth property acquired within Illinois state lines alone during this period..
