Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Chipotle located at 8559 Pines Boulevard, Pembroke Pines, FL. The property contains 3,030 square feet of net leasable area and is situated on 28,314 square feet of land. This investment opportunity consists of a 3,030 Sq Ft Quick Service Restaurant with a Drive-Thru situated on a .65-acre parcel of land. The asset is subject to a brand new 15-year absolute triple-net lease and four 5-year extension options. The subject property is going to be renovated and re-imagined by the tenant into a state-of-the-art Chipotle Mexican Grill, which faces Pines Boulevard, a street with a traffic count of over 100,000 vehicles per day. Rent Commencement Is set for July 23rd and Chipotle is expected to open its doors for business in early Fall 2023. Pembroke Pines is a Fort-Lauderdale suburban city located in Broward County, Florida. Featured in Time Magazine’s “50 Best Places to Live”, Pembroke Pines is an ideal destination to enjoy suburban life. With beaches to the east and the Everglades to the west, this beautifully landscaped neighborhood has an abundance of venues that bring residents outdoors to enjoy the sun. Chipotle Mexican Grill Inc(S&P:AARanking) serves fast casual, Mexican-inspired cuisine. Founded in Denver, CO in 1993, it has grown to more than 2,600 store locations and serves over a million customers daily. The company is known for its marketing of “Food With Integrity,” its commitment to offering fresh items and sourcing ingredients from ethical suppliers. Chipotle has helped usher in an era of “fast casual” dining experiences.