AON And Baxter Woodman Sign Leases At Bannockburn Corporate Center For 45,000 Square Feet
3000 Lakeside Drive
Building Size
44,768 SF
Asset Type
Office
Closing
Oct 8, 2024
AI
The property asset involved in this transaction is an office building located at 3000 Lakeside Drive in Bannockburn. The asset consists of 44,768 square feet and is part of the Bannockburn Corporate Center. Sentinel Net Lease is the landlord of this property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 3000 Lakeside Drive
- Market: Bannockburn
- Landlord: Sentinel Net Lease
- Tenant: AON & Baxter Woodman
- Broker: Chris Cummins - JLL
This transaction involved AON leasing 40,000 square feet of the former Donlen space, while Baxter Woodman, an engineering firm, has taken 4,768 square feet. Sentinel Net Lease has signed two new leases for nearly 45,000 square feet in total at the office building, which is equipped with modern amenities and provides easy access to the Greater Chicago area.
Players
Bannockburn Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93