Description
Sentinel Net Lease, LLC (“Sentinel”) acquired the 128,500 SF Quail Commercial Center (“QCC”) located in Oklahoma City, Oklahoma. The property is 100% occupied by AT&T and DCP Midstream, which are both credit-rated tenants. This retail net leased investment opportunity stood out to the firm as a strong, income property investment due to its credit-rated tenants and location.
Key Metrics
- Purchase Price: $18,575,000
- Net Rentable SF: 128,500
- 9.4% Capitalization Rate based on Year-1 NOI
- Estimated 2.1x Equity Multiple
- Target 22% net IRR to investors
- AT&T Lease Expiration: November 30, 2025. Two 5-year extension options
- DCP Midstream has recently signed a lease renewal.
- “NN+” Lease
