Asking Price
Area Size
NOI Net Operating Income
NIY

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Attributes

Year Built 2022
Building Area Net
Land Area Net ()
Rentable Area
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle Americas, Inc.(“JLL”) is pleased to offer for sale a brand-new construction, single tenant Chipotle (the “Property” or “Asset”) offering in High Point, North Carolina. Chipotle recently executed a 15-year lease with contractual increases of 10% every 5 years and multiple renewal options. The NNN lease features a corporate guaranty from Chipotle Mexican Grill, Inc. minimizing any short-term investment risk. The Property offers a rare opportunity to acquire an industry leading tenant on a long-term, NNN lease near the main campus of High Point University. The Asset is positioned in a highly trafficked retail corridor anchored by Walmart Supercenter. The tenant is scheduled to open for business in October 2022.


Alex Sharrin, Jeffrey Cicurel, and Alex Geanakos are limited nonresident commercial real estate brokers.


BROKER OF RECORD: Pete Pittroff LICENSE #: NC - 163984

Investment Highlights

FAVORABLE LEASE ECONOMICS

  • Brand-new construction building leased to Chipotle on a 15-year NNN lease with a corporate guaranty

INDUSTRY LEADING TENANCY

  • Chipotle Mexican Grill, Inc. is one of the largest and most recognized fast-casual restaurant chains in the world with over 2,900 locations across North America and Europe

EXCEPTIONAL SURROUNDING RETAIL

  • The Property’s located in an established trade area surrounded by major retailers including Walmart and Aldi

HIGH QUALITY REAL ESTATE

  • Newly constructed masonry and steel building on a wide, corner lot with dual entry ways, outdoor patio, and drive-thru window

PROXIMITY TO HIGH POINT UNIVERSITY

  • 2.5-miles from the main campus of High Point University, a four-year institution with over 6,000 students and faculty
Last Updated Date: 26 Sep 2022

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Last Updated Date: 26 Sep 2022

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