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Restaurant

Chipotle | 15 Years Remaining | Drive-Thru Location

1960 Rosser Ave, Waynesboro, VA 22980

Listing Price: $2,095,181

Cap Rate
4.15%
Tenant Name
Chipotle
Years Remaining On Lease
15.3
Guarantor
Corporate Guarantee
Rentable SF
2,350
Lease Type
NNN Ground Lease
Rent Per Square Feet
$37.00

Investment Overview

The Tenant, Chipotle Mexican Grill, Inc., is operating on a corporate lease that features a RARE 13 percent rental increase in year six and 10 percent increases every five years thereafter, providing an excellent hedge against inflation. This will boost the average cap rate over the term by nearly 10 bps, above the typical deal with 10 percent increase every five years. The Tenant will operate in a newly constructed 2,350-square-foot store with Chipotlane drive-thru and outdoor patio seating. A longtime leader and innovator in the food industry, Chipotle is publicly traded on the New York Stock Exchange under the ticker NYSE: CMG.

Investment Highlights

  • New 15-Year Lease with Large 13 Percent Year Six Increase and Chipotlane
  • Strong, Corporate, Investment Grade Retailer (NYSE: CMG)
  • Regional Retail Corridor Across from Lowe's and Walmart Supercenter

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Restaurant

Chipotle | 15 Years Remaining | Drive-Thru Location

Listing Price: $2,095,181

Cap Rate
4.15%
Tenant Name
Chipotle
Years Remaining On Lease
15.3
Guarantor
Corporate Guarantee
Rentable SF
2,350
Lease Type
NNN Ground Lease
Rent Per Square Feet
$37.00

Investment Highlights

  • New 15-Year Lease with Large 13 Percent Year Six Increase and Chipotlane
  • Strong, Corporate, Investment Grade Retailer (NYSE: CMG)
  • Regional Retail Corridor Across from Lowe's and Walmart Supercenter

Investment Overview

The Tenant, Chipotle Mexican Grill, Inc., is operating on a corporate lease that features a RARE 13 percent rental increase in year six and 10 percent increases every five years thereafter, providing an excellent hedge against inflation. This will boost the average cap rate over the term by nearly 10 bps, above the typical deal with 10 percent increase every five years. The Tenant will operate in a newly constructed 2,350-square-foot store with Chipotlane drive-thru and outdoor patio seating. A longtime leader and innovator in the food industry, Chipotle is publicly traded on the New York Stock Exchange under the ticker NYSE: CMG.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • David S. Crotts

    First Vice President Investments

    (202) 536-3757

    Email David

    License(s): MD: 652010, VA: 0225208906, DC: SP98374073

    Washington, D.C.

  • Josh Ein

    First Vice President Investments

    (202) 536-3726

    Email Josh

    License(s): DC: SP98371724, MD: 643676, VA: 0225242141

    Washington, D.C.

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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