Description
Sentinel Net Lease, LLC (“Sentinel”) acquired the Schnucks Fresh Food grocery store (the “Building”) located in the City of Normal, Illinois. The building totals 57,000 square feet and is 100.0% leased to Schnucks Markets, Inc.
Key Metrics
- Purchase Price: $11,733,000
- Net Rentable SF: 57,000
- 10% Capitalization Rate based on Year-1 NOI
- Projected 2.1x Equity Multiple
- Target 15% net IRR to investors
