Property Summary

ESSENTIAL INFORMATION

  • Corporate Guaranty by Concentrix Corporation
  • Renowned Global Tenant Serving a Diverse Blue Chip Customer Base
  • 20+ Year Tenant Occupancy History and Recent Improvements
  • Recent Lease Extension
  • Desirable Rental Increases
  • Below Market Rents in Strong Office Market
  • Labor Pool and Area Growth with Ease of Commute in St. Louis MSA
  • Status CLOSED
  • Area 65,225 Square Footage
  • Location St. Louis, MO
  • Type Corporate HQ (Office)
  • Strategy Opportunistic Institutional

Description

Sentinel Net Lease, LLC (“Sentinel”) acquired the 105,000 square foot corporate headquarters of Orion Advisor Solutions (“Orion”) located in the City of Omaha, Nebraska. The property consists of two separate buildings and is 100% leased to Orion with 10+ years remaining on the current lease. Orion has continuously occupied Building 1 since it opened 2012 and elected to expand its footprint by 45,000 SF with the development of Building 2 in 2016.

Key Metrics

  • Purchase Price: $7,555,000
  • Net Rentable SF: 65,225
  • 9.59% Capitalization Rate based on Year-1 NOI
  • Estimated 2.2x Equity Multiple
  • Target 27.3% net IRR to investors
  • Lease Expiration: July 31, 2031. Two 5-year extension options
  • “NNN” Lease

Location

Address

17605 Wright Street, Omaha, NE 68130