Belleview, FL - Chipotle & Starbucks

Description:

• The offering includes two adjacent parcels: a newly constructed single-tenant properties with drive-thru
• Both parcels benefit from scheduled rental increases and multiple renewal options, supporting long-term income growth
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 4,200 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
• The Absolute NNN lease structure features no landlord responsibilities
• Ideal, low-management investment for a passive investor in a state with no state income tax
Starbucks:
• Recently signed a brand new 10-year lease with 6 (5-year) options to extend, demonstrating their long-term commitment to the site
• 2025 construction which features high-quality materials, high-level finishes, and distinct Starbucks design elements
• The lease is corporate signed by Starbucks, an investment grade
(S&P: BBB+), nationally recognized, and established firm with over 40,200 stores
• The lease features 10% rental increases every 5 years and at the beginning of each option
• Tenant pays for taxes, insurance and maintains most aspects of the premises
• NN lease - limited landlord responsibilities
• Ideal, low-management investment for a passive investor in a state with no state income tax

• Both parcels is ideally fronting US-441 averaging 31,500 VPD
• Across from Belleview Regional Center, a Publix and Dollar Tree anchored shopping center
• The Publix across the street from the subject property generates ~$60M in annual sales per CenterCheck which ranks in the 90th percentile nationwide
• The Publix ranks in the 82nd percentile (238 out of 1,355) of all nationwide locations via Placer.ai
• The immediate 1-mile trade area has seen several new retail users added to the corridor’s tenant mix such as Take 5, Zaxby’s, Mavis, Tidal Wave Car Wash, FreeUp Storage, Ace Hardware, and more
• There is a new $71M retail development being proposed just South of the subject site, which will include a 171,000 SF wholesale club, a c-store, and
~12,500 SF of retail space spread across 4 outparcels
• This Starbucks location has sales performance above Starbucks national average - contact brokers for more details

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Listing ID: a28TP000003V1m5YAC