Belleview, FL - Chipotle

Description:

• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend
• 2025 construction
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded (NYSE: CMG) and nationally recognized tenant with over 3,700 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period

• Chipotle is ideally fronting US-441 averaging 31,500 VPD
• Part of larger development that will feature a brand new Starbucks drive-thru
• Across from Belleview Regional Center, a Publix and Dollar Tree anchored shopping center
• 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