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3000 Lakeside Drive

Sentinel Net Lease Acquires Office Property In Bannockburn For $28.55 Million
SOLDOffice

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

Sam DiFrancesca

JLL

Broker

$599.4M

vol

12 deals

Broker
Fred Lewis

Fred Lewis

Sentinel Net Lease

Buyer

$105.7M

vol

6 deals

Buyer

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