Sentinel Net Lease Acquires Two Crown Point Office Building
BALTIMORE, Dec. 19, 2022 (GLOBE NEWSWIRE) — Sentinel Net Lease (“Sentinel”) announced today that is has acquired Two Crowne Point, a 74,460 square foot office building located in Cincinnati, OH. The four-story building is 100% leased to Jacobs Solutions and HairClub.
Two Crowne Point serves as the regional office for publicly traded, global engineering firm Jacobs Solutions (“Jacobs”). Jacobs, ranked #262 on the 2022 Fortune 500 list, has occupied the building since 2020 and invested significant capital to its interior improving the aesthetics and creating value for the property. HairClub, the leading provider of hair loss solutions, has occupied the building since 2006. “Despite challenging macroeconomic conditions, we found many appealing factors that supported our acquisition of Two Crowne Point, including a strong income stream supported by institutional caliber tenants and a newly renovated building at a significant discount to replacement costs. We are firm believers in the stability of the regional Cincinnati economy and the Sharonville submarket, which gave us confidence in the asset’s position within the market,” said Sentinel’s Chief Investment Officer, Dennis Cisterna.
Two Crowne Point marks Sentinel’s first acquisition in Ohio. Fred Lewis, Sentinel’s CEO, commented, “We are excited to enter the Cincinnati market with this acquisition as it expands our operational footprint within the Midwest region. While many institutional investors focus on larger coastal metro areas, we have found that many markets throughout the Midwest offer tremendous value and consistent risk-adjusted returns to our investors. In a time of economic uncertainty, the long-term stability of income-producing assets like Two Crowne Point are very appealing compared to speculative investments.”
The addition of Two Crowne Point grows Sentinel’s portfolio to 16 assets across eleven states totaling over 1.6 million square feet of gross leasable area. The company continues to source new commercial real estate opportunities across the office, industrial, retail, and automotive sectors.
About Sentinel Net Lease
Sentinel Net Lease is a real estate investment firm founded in 2019 that is focused on acquiring commercial real estate investments that either produce monthly cash-flow or possess significant profit potential through renovation and leasing. These assets are expected to be resistant to certain market disruptions while offering potential out-sized returns for investors. Management targets opportunistic situations that may not be a fit for traditional institutional investors due to size, location, or transaction complexity, utilizing its extensive experience to understand each property’s narrative to create real value for investors.
Their approach combines institutional-quality, data-driven investment analysis with exceptional boots-on-the-ground operational experience and meticulous asset management to deliver strong, risk-adjusted yields. Visit www.sentinelnetlease.com for more information.
Sentinel Net Lease
Laura Nguyen – Director of Investor Relations & Marketing