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Chicago & Midwest   /   February 10, 2021

Paul Bubny
By: Paul Bubny

Sentinel Net Lease Snags Tesla Store

Sentinel Net Lease acquired a Tesla Store & Service Center in Schaumburg, IL for $10.5 million from an undisclosed seller. The 27,032 square foot property is 100% occupied by Tesla under a long-term lease.

"With the highest valued automaker in the world as a credit-rated tenant, this unique investment provides the opportunity to acquire a first-class property with a long-term lease to a strong national tenant and showcases the power of pandemic-resistant real estate,” said Dennis Cisterna, Sentinel’s CIO.

Following a complete renovation of the property in 2019, Tesla executed a 10-year lease that extends through 2029. Los Angeles-based Sentinel believes Tesla is positioned for continued growth and financial strength, given its increasing sales and captive service model.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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