Description
Sentinel Net Lease, LLC (“Sentinel”) acquired the Schnucks Fresh Food grocery store (the “Building”) located in Peoria, Illinois. The building totals 86,675 square feet and is 100.0% leased to Schnucks Markets, Inc.
Key Metrics
- Purchase Price: $7,475,000
- Net Rentable SF: 86,675
- 11.8% Capitalization Rate based on Year-1 NOI
- Estimated 2.6x Equity Multiple
- Target 23% net IRR to investors
