Chicago & Midwest + Greater Chicagoland + Office | April 25, 2023

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.

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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