St. Pete Beach (Pasadena), 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 company (NYSE: CMG) and nationally recognized tenant with over 4,200 locations
• Brand-new construction will feature a dedicated Chipotlane for convenient digital order pickup, along with Chipotle’s latest prototype design and newest store features
• 10% rental increases every five years throughout the initial term and at the beginning of each option period
• Ideal, management-free investment for a passive investor in a state with no state income tax

• Chipotle is ideally positioned along Pasadena Avenue S, which sees over 28,000 vehicles per day and serves as a main north/south thoroughfare
serving the City of St. Petersburg
• The site is located near several key demand drivers, including HCA Florida Pasadena Hospital, a 307-bed facility that generates a consistent pool of employees, patients, and visitors; St. Petersburg College, serving more than 13,000 students annually; St. Petersburg High School, with approximately 1,700 students; and Boca Ciega High School, with approximately 1,000 students
• 4.7 million visitors traveled to the St. Pete-Clearwater market during the February–April 2026 peak season, while April tourism tax collections reached a record $11.5 million, highlighting the strength of visitor traffic and consumer spending throughout the market
• The site is located near multiple credit and national tenants, including Walmart Supercenter, Publix, Bealls, Dollar Tree, Taco Bell, and more
• South Pasadena / St. Petersburg / St. Pete Beach - Nearby Developments: Corey Landing, SeaWinds, The Luce, Sirata Beach Resort, Davis-Johnson Community Project

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