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Restaurant

Chipotle

715 Team Blvd, Smyrna, TN 37167

Listing Price: $4,106,667

Cap Rate
3.75%
Tenant Name
Chipotle
Years Remaining On Lease
12.0
Guarantor
Corporate Guarantee
Rentable SF
3,729
Lease Type
Absolute Net
Rent Per Square Feet
$37.54

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Chipotle a single-tenant property located at 715 Team Boulevard, Nashville (Smyrna), TN 37167. The subject property is comprised of 3,729 square feet and was built in 2013. The building sits on a large 54,450 square foot lot located just off Sam Ridley Parkway which oversees ±46,100 Vehicles Per Day. Chipotle operates on a corporate absolute-net lease with 12 years remaining. At the end of the initial term Chipotle will have four, five-year options to extend. The lease calls for 10% increases every five years, a great hedge against inflation. Chipotle is an American restaurant chain that serves a simple menu of Mexican-inspired food. Founded in Denver, Colorado, in 1993 by Steve Ells, a classically trained chef, Chipotle has grown to more 2,000 store locations, which together serve over 1 million customers daily. The company is known for its brand and marketing of “Food with Integrity,” its commitment to offering fresh meal items and sourcing ingredients from ethically minded suppliers. With this premium food ethos, Chipotle helped usher in an era of “fast casual” dining experiences, many of which loosely mimicked the chain’s popular approach to fresh preparation and assembly line service. Since going public in 2006, Chipotle’s restaurant footprint has grown rapidly, and now includes locations in Europe. The company has also developed a portfolio of subsidiary brands, including Pizzeria Locale, the Asian inspired Shop House Kitchen, and Tasty Made, a new burger joint.

Investment Highlights

  • Absolute-Net Ground Lease: 12-Years Remain on Lease with 10% Increases Every 5-Years; Including Each of the Four, 5-Year Options to Extend the Term
  • Corporate Guaranty (NYSE: CMG): Chipotle has ±2,780 Locations and ±64,100 employees Nationwide
  • High Visibility & Ease of Access: Located at the Intersection of Sam Ridley Parkway West & Industrial Boulevard which Oversees a Combined ±46,100 Vehicles Per Day

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s) TN: 307629

    Tennessee

Financing By

Restaurant

Chipotle

Listing Price: $4,106,667

Cap Rate
3.75%
Tenant Name
Chipotle
Years Remaining On Lease
12.0
Guarantor
Corporate Guarantee
Rentable SF
3,729
Lease Type
Absolute Net
Rent Per Square Feet
$37.54

Investment Highlights

  • Absolute-Net Ground Lease: 12-Years Remain on Lease with 10% Increases Every 5-Years; Including Each of the Four, 5-Year Options to Extend the Term
  • Corporate Guaranty (NYSE: CMG): Chipotle has ±2,780 Locations and ±64,100 employees Nationwide
  • High Visibility & Ease of Access: Located at the Intersection of Sam Ridley Parkway West & Industrial Boulevard which Oversees a Combined ±46,100 Vehicles Per Day

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Chipotle a single-tenant property located at 715 Team Boulevard, Nashville (Smyrna), TN 37167. The subject property is comprised of 3,729 square feet and was built in 2013. The building sits on a large 54,450 square foot lot located just off Sam Ridley Parkway which oversees ±46,100 Vehicles Per Day. Chipotle operates on a corporate absolute-net lease with 12 years remaining. At the end of the initial term Chipotle will have four, five-year options to extend. The lease calls for 10% increases every five years, a great hedge against inflation. Chipotle is an American restaurant chain that serves a simple menu of Mexican-inspired food. Founded in Denver, Colorado, in 1993 by Steve Ells, a classically trained chef, Chipotle has grown to more 2,000 store locations, which together serve over 1 million customers daily. The company is known for its brand and marketing of “Food with Integrity,” its commitment to offering fresh meal items and sourcing ingredients from ethically minded suppliers. With this premium food ethos, Chipotle helped usher in an era of “fast casual” dining experiences, many of which loosely mimicked the chain’s popular approach to fresh preparation and assembly line service. Since going public in 2006, Chipotle’s restaurant footprint has grown rapidly, and now includes locations in Europe. The company has also developed a portfolio of subsidiary brands, including Pizzeria Locale, the Asian inspired Shop House Kitchen, and Tasty Made, a new burger joint.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2860

    License(s): TN: 307629

    Tennessee

Financing By

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