Pinellas Park, FL - Chipotle

Description:

• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded
(NYSE: CMG) and nationally recognized tenant with over 4,000 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period

• Chipotle is strategically located fronting Park Blvd, one of Pinellas County’s busiest and most established commercial corridors linking beaches, residential communities and employment districts (53,000 VPD)
• Subject property is located on a lighted intersection with combined traffic counts of 68,800 VPD, providing outstanding visibility and access
• Pinellas County is the densest county in the state of Florida, providing a high barrier to entry for new developments
• Just 3-miles from brand new $26 million Sprowls Horizon Sports Park bringing a new premier youth sports complex driving consistent traffic to the area
• The surrounding retailers supporting the immediate trade area are Sam’s Club, Publix, Starbucks, Lowe’s and more
• Lowe’s ranks in the top 95% of all nationwide locations according to Placer.ai
• Walmart Neighborhood Market ranks in the top 92% of all locations nationwide according to Placer.ai
• Sam’s Club ranks in the 72% of all locations nationwide according to Placer.ai
• Surrounded by major educational anchors in the area, including multiple high schools, elementary schools and the nearby St. Petersburg College contributing to lunchtime and after-school demand

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Listing ID: a28TP000002m02zYAA