Sentinel Net Lease Acquires Office Property In Bannockburn For $28.55 Million
3000 Lakeside Drive
$28,550,000
$133/SF
Building Size
213,216 SF
Asset Type
Office
Closing
Apr 13, 2023
AI
The office property located at 3000 Lakeside Drive in Bannockburn has been sold in a closed transaction. The property spans 213,216 square feet and was sold at a price of $28,550,000, resulting in a price per square foot of $134.
Summary of transation details
- Property Type: Office
- Transaction Amount: $28,550,000
- Square Footage: 213,216
- Address: 3000 Lakeside Drive, Bannockburn
- Market: Bannockburn
The buyer in this transaction is Sentinel Net Lease, represented by Dennis Cisterna and Fred Lewis. They acquired the property from the seller, Axial Real Estate Advisors. Sam DiFrancesca from JLL served as the broker in the deal.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93