CHIPOTLE | $4,106,667 | 3.75% CAP
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 than 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 ShopHouse Kitchen, and Tasty Made, a new burger joint.