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Restaurant

Chipotle Drive-Thru - 15 Yr Lease

2608 North Greenwich Court, Wichita, KS 67226

Listing Price: $2,997,000

Cap Rate
4.50%
Tenant Name
Chipotle Mexican Grill of Kansas, LLC
Years Remaining On Lease
14.9
Gross SF
2,325
Guarantor
Corporate Guarantee
Rentable SF
2,325
Price/Gross SF
$1,289.03
Lease Type
Double Net
Rent Per Square Feet
$58.00

Investment Overview

Chipotle Mexican Grill, Inc. (NYSE: CMG) is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, known for its large burritos, assembly-line production, and use of natural ingredients. Founded in 1993, Chipotle is one of the first chains of fast casual dining establishments, offering more than 65,000 combinations of burritos, soft tacos, crispy tacos, chips and salsa, beer, and margaritas. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I 135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City to the northeast, Oklahoma City to the south, and Tulsa to the southeast.

Investment Highlights

  • Brand New 15-Year Corporate Lease with Chipotle
  • 5% Rental Increases Every 5 Years
  • 107,757 Residents within a 5-Mile Radius - Growing Wichita Trade Area
  • Population and Households Projected to Increase Nearly 10% within 1-Mile by 2025
  • 2021 Construction with a Drive Thru, "Chipotlane" Restaurant Concepts Generate 10% More in Sales
  • Situated within Greenwich Place Shopping Center - Major Tenants Include HomeGoods, Bed Bath & Beyond, Ross, Michaels, and DSW
  • Directly Off KS-96 (36,900+ Cars/Day) with Direct Access to Downtown Wichita
  • Down the Road from Wichita Sports Forum, Attracting 1.2 Million Visitors Per Year

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s) KS: 00241410

    Kansas

Restaurant

Chipotle Drive-Thru - 15 Yr Lease

Listing Price: $2,997,000

Cap Rate
4.50%
Tenant Name
Chipotle Mexican Grill of Kansas, LLC
Years Remaining On Lease
14.9
Gross SF
2,325
Guarantor
Corporate Guarantee
Rentable SF
2,325
Price/Gross SF
$1,289.03
Lease Type
Double Net
Rent Per Square Feet
$58.00

Investment Highlights

  • Brand New 15-Year Corporate Lease with Chipotle
  • 5% Rental Increases Every 5 Years
  • 107,757 Residents within a 5-Mile Radius - Growing Wichita Trade Area
  • Population and Households Projected to Increase Nearly 10% within 1-Mile by 2025
  • 2021 Construction with a Drive Thru, "Chipotlane" Restaurant Concepts Generate 10% More in Sales
  • Situated within Greenwich Place Shopping Center - Major Tenants Include HomeGoods, Bed Bath & Beyond, Ross, Michaels, and DSW
  • Directly Off KS-96 (36,900+ Cars/Day) with Direct Access to Downtown Wichita
  • Down the Road from Wichita Sports Forum, Attracting 1.2 Million Visitors Per Year

Investment Overview

Chipotle Mexican Grill, Inc. (NYSE: CMG) is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, known for its large burritos, assembly-line production, and use of natural ingredients. Founded in 1993, Chipotle is one of the first chains of fast casual dining establishments, offering more than 65,000 combinations of burritos, soft tacos, crispy tacos, chips and salsa, beer, and margaritas. Wichita is the largest city in the State of Kansas and the 49th-largest city in the United States. Located in south-central Kansas on the Arkansas River, Wichita is the county seat of Sedgwick County and the principal city of the Wichita metropolitan area. In 2018, the estimated population of the Wichita metropolitan area was 644,888. Major highways, including the Kansas Turnpike, US 400 and Interstate I 135, link the city with a large trade area that encompasses a population of more than a million people within a 100-mile radius. The nearest large cities are Denver to the west, Kansas City to the northeast, Oklahoma City to the south, and Tulsa to the southeast.

Exclusively Listed By

Broker of Record

  • Colby Haugness

    First Vice President Investments

    (816) 410-1010

    License(s): KS: 00241410

    Kansas

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