Option Care Headquarters in Bannockburn Sells to Sentinel Net Lease
Sentinel Net Lease has closed on the acquisition of Bannockburn Corporate Center, a 213,216-square-foot Class A office building located in Bannockburn, IL for $28.55 million. The property serves as the headquarters office for Option Care and Donlen and hosts a small roster of other institutional caliber tenants.
Located at 3000 Lakeside Dr., the building was completed in 2001 and renovated in 2018. It’s 91.5% leased to a diverse tenant base, with a weighted average lease term remaining of more than five years.
“Due to changing market conditions, certain investors have vacated office investments entirely, regardless of the supporting fundamentals of a particular market or building,” said Sentinel CIO Dennis Cisterna III. “With that, it has opened the door for Sentinel to strategically expand our portfolio with less competition than normal.”
Bannockburn Corporate Center is Sentinel’s 17th acquisition since 2020 and the fourth property the company has acquired in Illinois.