Overview

Description

Faris Lee Investments is pleased to present an exceptional investment opportunity featuring a newly constructed, free-standing pad building hosting three esteemed fast-casual dining tenants: Chipotle, Jersey Mike’s, and Dragon Grill. Strategically positioned as an outparcel pad building to a bustling Neighborhood Shopping Center anchored by a 24/7 Winco Foods Supermarket, this property offers investors a zero-deferred maintenance asset with long-term stability. Notably, the property boasts a Drive-Thru Chipotlane, catering to the modern consumer’s convenience preferences, along with six EV charging stations leased on long-term agreements.
Chipotle, a globally recognized consumer brand with over 3,100 locations worldwide, is renowned for its fresh Mexican-inspired cuisine and commitment to using high-quality ingredients sourced from sustainable suppliers. With annual sales exceeding $9.87 billion and a current market cap of $80B+ (April 2024), Chipotle serves as the anchor tenant, providing reliability and prestige. Jersey Mike’s, a well-established consumer brand specializing in submarine sandwiches and salads, has over 3,000 locations across the United States and is currently valued at over $8 billion. Although privately held, Blackstone is currently pursuing a purchase of the chain for $8B+ (April 2024). Dragon Grill, cherished for its Asian-inspired cuisine and stellar 4.7-star rating on Google reviews, rounds out the tenant mix, reflecting the community’s culinary preferences and bolstering the property’s appeal.

The property enjoys exceptional visibility at the signalized hard corner of Foothill Blvd. and Cherry Ave., with over 70,000+ vehicles passing by daily. Neighboring national retailers include Farmer Boys and Arco AM/PM, further enhancing the area’s appeal. Strong trade area demographics boast a population of over 140,000+ within a 3-mile radius and an average household income of $118,000+. Fontana, part of the Inland Empire Region, serves as the Logistics and e-Commerce hub for southern California, offering ample opportunities for continued property appreciation and potential future development.
The property’s long-term, triple-net leases ensure minimal management burden, with all common area maintenance expenses passed through to tenants. Its prime location near major highways, public transportation options, and pedestrian-friendly amenities enhances its appeal to environmentally conscious consumers. This investment presents a rare opportunity to acquire a high-profile retail asset with top-tier tenants in a thriving market, poised to deliver strong returns for discerning investors.

Highlights

• Strong national & local tenants with corporate executed leases | Chipotle Mexican Grill Inc.: (NYSE: CMG) - Jersey Mike's - Dragon Grill
• New long term NNN leases
• Brand new 2024 construction | grand opening slated for 2nd QTR 2024
• New drive-thru Chipotlane pad building fronting WinCo foods supermarket
• Strategic location in major retail corridor surrounded by economic hub | over 70,000+ VPD at the intersection of Foothill Blvd. & Cherry Ave.
• Close proximity to residential communities, a multitude of schools, target headquarters & distribution facility, Mercedes- Benz warehouse & distribution facility, southwest industrial park e-commerce and trade hub
• Strong trade area demographics within 3-miles | AHHI $112,000+
• Ease of management with only 3-tenants
• Close proximity to the new development at Fontana auto club speedway

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