CoxHealth Buys Chase Operations Campus in Springfield, Missouri

REBusiness Online - February 6, 2024: "Sentinel Net Lease Sells 268,413 SF Chase Operations Center in Springfield, Missouri." Trade news detailing Sentinel's profitable disposition of a large office asset in Springfield. Sentinel sold the 268,000+ sq. ft. JPMorgan Chase Operations Center (held for under two years) to a local healthcare operator (identified in other sources as CoxHealth[12]). The sale price wasn't disclosed, but Sentinel achieved a 45% IRR and a 1.9× equity multiple on this deal[13] - making it one of the most profitable U.S. office building sales in recent years, according to the firm. The transaction was brokered by R.B. Murray Company, and it exemplified Sentinel's strategy of acquiring under-valued office assets and reselling at a gain despite a soft office market[14][15]. (Link: REBusinessOnline)

[12] CoxHealth Buys Chase Operations Campus in Springfield, Missouri

[13] [15] Sentinel Net Lease Sells 268,413 SF Chase Operations Center in Springfield, Missouri - REBusinessOnline

[14] Sentinel Net Lease closes disposition of Chase Operations Center in Missouri - REJournals