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Restaurant

Chipotle, Panera, Raising Cane's & BJ's Brewhouse

15011-15081 South La Grange Road, Orland Park, IL 60462

Listing Price: $18,634,000

Cap Rate
5.00%
Tenant Name
Chipotle, Panera, Raising Cane's, and BJ's
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
20,732
Lease Type
Single Net
Rent Per Square Feet
$44.92

Investment Overview

Marcus & Millichap is pleased to Trophy Generational Retail featuring Chipotle, Panera, Raising Cane’s, Smashburger, and BJ’s Brewhouse. These tenants are in three free-standing, single-tenant buildings, and one multi-tenant building, all being sold together. They are new built-to-suit 2021 and 2022 construction. Panera, Chipotle, and Raising Cane’s feature drive thru’s. BJ’s Brewhouse is projected to be open by November 2022. There are strong lease terms for all tenants. BJ’s Brewhouse has a 20-year lease with 10% rental increases every five years. Raising Cane’s, Panera, and Chipotle all have 15-year leases with 10% rental increases every five years. Smashburger has a 10-year lease with 10% rental increases every five years. It is located in a super-regional retail location. Notable nearby tenants include Target, Walmart, Kohl’s, Whole Foods, and more. Outlot to Orland Square Mall with over 1.2 million square feet of retail, anchored by Macy’s, Von Maur, and the Apple Store. The property is situated on the signalized, hard-corner intersection of La Grange Road and 151st Street, seeing almost 60,000 vehicles per day and 1,000 feet of frontage. Within five miles of subject property there is a population of 162,248 and an average household income exceeding $120,000.

Investment Highlights

  • Three Free-Standing, Single-Tenant Buildings, and One Multi-Tenant Building, All Being Sold Together
  • New, Built-to-Suit 2021-2022 Construction
  • Strong Lease Terms for All Tenants
  • Super Regional Retail Location
  • Outlot to Orland Square Mall | Anchored by Macy's, Von Maur and Apple
  • Situated on the Signalized, Hard-Corner Intersection of La Grange Road and 151st Street
  • Heavily Populated, Affluent Area

Exclusively Listed By

Restaurant

Chipotle, Panera, Raising Cane's & BJ's Brewhouse

Listing Price: $18,634,000

Cap Rate
5.00%
Tenant Name
Chipotle, Panera, Raising Cane's, and BJ's
Years Remaining On Lease
9.5
Guarantor
Corporate Guarantee
Rentable SF
20,732
Lease Type
Single Net
Rent Per Square Feet
$44.92

Investment Highlights

  • Three Free-Standing, Single-Tenant Buildings, and One Multi-Tenant Building, All Being Sold Together
  • New, Built-to-Suit 2021-2022 Construction
  • Strong Lease Terms for All Tenants
  • Super Regional Retail Location
  • Outlot to Orland Square Mall | Anchored by Macy's, Von Maur and Apple
  • Situated on the Signalized, Hard-Corner Intersection of La Grange Road and 151st Street
  • Heavily Populated, Affluent Area

Investment Overview

Marcus & Millichap is pleased to Trophy Generational Retail featuring Chipotle, Panera, Raising Cane’s, Smashburger, and BJ’s Brewhouse. These tenants are in three free-standing, single-tenant buildings, and one multi-tenant building, all being sold together. They are new built-to-suit 2021 and 2022 construction. Panera, Chipotle, and Raising Cane’s feature drive thru’s. BJ’s Brewhouse is projected to be open by November 2022. There are strong lease terms for all tenants. BJ’s Brewhouse has a 20-year lease with 10% rental increases every five years. Raising Cane’s, Panera, and Chipotle all have 15-year leases with 10% rental increases every five years. Smashburger has a 10-year lease with 10% rental increases every five years. It is located in a super-regional retail location. Notable nearby tenants include Target, Walmart, Kohl’s, Whole Foods, and more. Outlot to Orland Square Mall with over 1.2 million square feet of retail, anchored by Macy’s, Von Maur, and the Apple Store. The property is situated on the signalized, hard-corner intersection of La Grange Road and 151st Street, seeing almost 60,000 vehicles per day and 1,000 feet of frontage. Within five miles of subject property there is a population of 162,248 and an average household income exceeding $120,000.

Exclusively Listed By

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