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Restaurant

15 Year Chipotle & 10+ Year Starbucks | New Construction

1990 McKee St, Batavia, IL 60510

Listing Price: $5,232,000

Cap Rate
4.12%
Tenant Name
Chipotle & Starbucks
Years Remaining On Lease
10.5
Guarantor
Corporate Guarantee
Rentable SF
4,575
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.16

Investment Overview

Marcus & Millichap is pleased to present these new construction 15-year Chipotle and 10-plus year Starbucks. These two, free standing, single-tenant properties are on separate parcels, and being sold together. Both Chipotle and Starbucks are relocating from a nearby shopping center, where they have operated since 2001, to free standing buildings. New build-to-suit 2022 construction, both include drive-thrus and outdoor seating areas. Buildings to be delivered summer 2022. Chipotle Mexican Grill has strong lease terms with 15-year net, corporately guaranteed lease. Minimal landlord responsibility with strong 10% rent bumps every five years. Property features new Chipotle drive-thru. Starbucks has solid lease terms over 10 years net on corporately guaranteed lease. Corporately guaranteed by Starbucks Corporation. Strong 10% rent bumps every five years. Located along a major retail thoroughfare of Kane County. Major national retailers in the area include Target, Ace Hardware, Aldi, Menard’s, The Home Depot, Walmart, Walgreens, Fresh Thyme, Petco, At Home, Dollar Tree and many more. Ideally situated at the signalized intersection of Randall Road and McKee Street with 37,450 total vehicles passing per day. Frontage along Randall Road. Attractive demographics within an affluent area with expected population growth. Within three miles of subject property there is an average household income of $155,440. There is an anticipated population growth of 2% by 2026 within a five-mile radius.

Investment Highlights

  • Two, Free Standing, Single-Tenant Properties on Separate Parcels, Being Sold Together
  • Both Chipotle and Starbucks are Relocating From a Nearby Shopping Center, Where They Have Operated Since 2001, to Free Standing Buildings
  • New Build-to-Suit 2022 Construction | Both Include Drive-Thrus and Outdoor Seating Areas
  • Chipotle Mexican Grill | Strong Lease Terms | 15-Year Net, Corporately Guaranteed Lease
  • Starbucks | Solid Lease Terms | 10-Plus Year Net, Corporately Guaranteed Lease
  • Located Along a Major Retail Thoroughfare of Kane County
  • Ideally Situated at the Signalized Intersection of Randall Road and McKee Street | 37,450 Total Vehicles Passing per Day
  • Attractive Demographics | Affluent Area with Expected Population Growth

Exclusively Listed By

Restaurant

15 Year Chipotle & 10+ Year Starbucks | New Construction

Listing Price: $5,232,000

Cap Rate
4.12%
Tenant Name
Chipotle & Starbucks
Years Remaining On Lease
10.5
Guarantor
Corporate Guarantee
Rentable SF
4,575
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$47.16

Investment Highlights

  • Two, Free Standing, Single-Tenant Properties on Separate Parcels, Being Sold Together
  • Both Chipotle and Starbucks are Relocating From a Nearby Shopping Center, Where They Have Operated Since 2001, to Free Standing Buildings
  • New Build-to-Suit 2022 Construction | Both Include Drive-Thrus and Outdoor Seating Areas
  • Chipotle Mexican Grill | Strong Lease Terms | 15-Year Net, Corporately Guaranteed Lease
  • Starbucks | Solid Lease Terms | 10-Plus Year Net, Corporately Guaranteed Lease
  • Located Along a Major Retail Thoroughfare of Kane County
  • Ideally Situated at the Signalized Intersection of Randall Road and McKee Street | 37,450 Total Vehicles Passing per Day
  • Attractive Demographics | Affluent Area with Expected Population Growth

Investment Overview

Marcus & Millichap is pleased to present these new construction 15-year Chipotle and 10-plus year Starbucks. These two, free standing, single-tenant properties are on separate parcels, and being sold together. Both Chipotle and Starbucks are relocating from a nearby shopping center, where they have operated since 2001, to free standing buildings. New build-to-suit 2022 construction, both include drive-thrus and outdoor seating areas. Buildings to be delivered summer 2022. Chipotle Mexican Grill has strong lease terms with 15-year net, corporately guaranteed lease. Minimal landlord responsibility with strong 10% rent bumps every five years. Property features new Chipotle drive-thru. Starbucks has solid lease terms over 10 years net on corporately guaranteed lease. Corporately guaranteed by Starbucks Corporation. Strong 10% rent bumps every five years. Located along a major retail thoroughfare of Kane County. Major national retailers in the area include Target, Ace Hardware, Aldi, Menard’s, The Home Depot, Walmart, Walgreens, Fresh Thyme, Petco, At Home, Dollar Tree and many more. Ideally situated at the signalized intersection of Randall Road and McKee Street with 37,450 total vehicles passing per day. Frontage along Randall Road. Attractive demographics within an affluent area with expected population growth. Within three miles of subject property there is an average household income of $155,440. There is an anticipated population growth of 2% by 2026 within a five-mile radius.

Exclusively Listed By

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