Sentinel Net Lease announced recently that Sentinel Opportunity Fund I, LP closed on the acquisitions of two mission-critical commercial properties leased to Abbott Laboratories and V3 Engineering and located in Waukegan and Woodridge, IL, respectively. Totaling $20.8 million, they represent the fund’s seventh and eighth acquisitions.
The Abbott Laboratories property is a fully leased 131,341-square-foot office facility located near Abbott’s headquarters campus. The building houses Abbott’s software, data engineering and technology teams that support core operating functions across the organization.
The 44,096-square-foot V3 Engineering property serves as the long-term headquarters facility for V3 Engineering, a multidisciplinary engineering and construction firm with operations in the U.S. and Canada.
Both properties are 100% leased under long-term structures that complement the Fund’s existing portfolio of industrial, office, and retail assets.
“These acquisitions mark an important milestone as the Fund continues to build a diversified portfolio, one asset at a time,” said Fred Lewis, CEO of Las Vegas-based Sentinel Net Lease. “Being disciplined about tenant quality, lease structure, and market selection has allowed us to grow while maintaining balance across industries and geographies.”
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