Chicago & Midwest + Midwest + Retail | December 8, 2020

Sentinel Net Lease Acquires Two Schnucks Groceries

Los Angeles-based Sentinel Net Lease acquired two Schnucks Fresh Food Grocery Stores for $18.3 million in central Illinois. The first property, located in Loves Park and acquired for $11.7 million, is 142,357 square feet and sits on 15 acres of land. The second, located in Normal and acquired for $6.6 million, is 57,000 square feet and sits on six acres.

Dennis Cisterna, Sentinel’s CIO, said, “Schnucks Fresh Food Grocery Stores represent a primary essential service where demand and revenue have remained strong during the COVID-19 pandemic. Additionally, Schnucks is a tech-forward business that participates in online ordering and delivery, which has been the fastest-growing revenue sector in retail over the past year.”

With the addition of these properties and three more acquisitions scheduled before the end of the year, Sentinel is on pace to acquire more than $78 million in real estate assets by year-end.

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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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