Springfield, NJ - Chipotle & Solidcore

Description:

• 100% occupied, two-tenant retail investment property
• Both tenants—Chipotle and Solidcore—operate under corporate guaranteed leases, providing strong credit backing and income security
• Chipotle (NYSE: CMG):
» Extremely high performing Tenant, which generated $4,082,996 of sales of in 2025 ($1,856 PSF),
» Over 23.5% increase in sales from 2023 – 2025
» Early extension being finalized for Tenant to have more than 12 years of firm term
» Near term rental increase of 12% in 2028
• Solidcore:
» Achieved $2,407,701 in sales ($1,335 PSF) in 2025, which is above the sales breakpoint of $1,830,300
» Early extension being finalized for Tenant to have more than 12 years of firm term
» Sales increased by 44.7% from FY 2024 to FY 2025
» Strong embedded growth with 3% annual rental increases

• Strategically positioned along State Highway 124, a major arterial roadway with approximately 119,800 vehicles per day (VPD)
• Immediate access to Interstate 78, which carries approximately 191,300 VPD, providing superior regional connectivity and commuter exposure
• Shadow-anchored by a high-performing ShopRite, ranking as the #2 most visited store on a per-square-foot basis within the statewide chain (per Placer.ai)
• Surrounded by a dense concentration of national and credit tenants, including Kings Food Markets, Walgreens, Wawa, and others, generating consistent daily consumer traffic
• Strong tenant synergy enhances overall consumer draw, promotes cross-shopping, and increases visibility and exposure for the subject property within the immediate trade area

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Listing ID: a28TP000002CZ8vYAG