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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.

For comments, questions or concerns, please contact Paul Bubny

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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 16-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 7-10 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).

  • ◦Sale/Acquisition
  • ◦Lease
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