Sentinel Net Lease Completes Sale of Schnucks Fresh Foods

BALTIMORE, Sept. 15, 2022 (GLOBE NEWSWIRE) — Sentinel Net Lease (“Sentinel”) right this moment introduced the funding agency’s first disposition, the sale of a Schnucks Fresh Foods in Loves Park, Illinois. The 142,357 sq. foot retail constructing was 100% leased and occupied by Schnucks Markets, Inc., one of the nation’s largest non-public grocers.

Sentinel Net Lease was based by funding veterans Fred Lewis and Dennis Cisterna III with a major technique to spend money on actual property occupied by tech-centric and important companies firms that may thrive in regular market circumstances and function efficiently in recessionary environments.

This property was acquired lower than two years in the past at a lovely capitalization price in the course of the top of the pandemic. Sentinel’s unique business plan was to repurpose and re-tenant the surplus distribution house on the property and develop new avenue frontage retail on the outsized parking zone over the following a number of years.

“While we generally acquire assets with a longer hold period in mind, we received an unsolicited offer from an institutional buyer and were able to sell the property at a substantial profit in a shorter investment period without taking on any additional risk. While I am sad to not be able to execute our full vision for the property, we are thrilled to generate a tremendous return to our investors and complete our first full cycle investment,” mentioned Cisterna, Sentinel’s Chief Investment Officer.   

The Loves Park location is only one of a number of Schnucks properties owned by Sentinel all through the Midwest. Lewis, Sentinel’s CEO, commented, “We are big believers in great companies, defensive industries, and stable markets throughout the Midwest region. Grocery was considered necessity-based retail and Schnucks Markets is a fantastic operator across several states, making this an ideal acquisition for our net leased portfolio. Our business plan did not call for a sale after just two years, however; the opportunity to dispose of the asset and provide outsized returns to our investors was a decision that management felt was in the best interest of our investors.”

About Sentinel Net Lease

Sentinel Net Lease is an actual property funding agency based in 2019 that’s centered on buying business actual property investments that both produce month-to-month cash-flow or possess vital revenue potential by way of renovation and leasing. Our properties are anticipated to be immune to sure market disruptions whereas providing potential out-sized returns for buyers. Management targets opportunistic conditions that will not be a match for conventional institutional buyers on account of measurement or transaction complexity, using the agency’s intensive expertise to grasp every property’s narrative to create actual worth for buyers.

Sentinel’s strategy combines institutional-quality, data-driven funding evaluation with distinctive boots-on-the-ground operational expertise and meticulous asset administration to ship sturdy, risk-adjusted yields. Sentinel Net Lease at the moment personal 15 properties totaling over 1.5 million sq. toes with belongings beneath administration in extra of $240MM.

Visit sentinelnetlease.com for extra info.

Contacts
Sentinel Net Lease
Laura Nguyen – Director of Investor Relations & Marketing
[email protected]