X
Upcoming Stories
Chicago & Midwest CRE News In Your Inbox .

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.

Connect
Inside The Story
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.
Email the Author

New call-to-action
© ConnectCRE 2021 / 515 S Figueroa St., Suite 350, Los Angeles, CA 90071.
Contact Us / Policies, Privacy & DisclosuresSubmit Press Release / 
magnifiermenu