Auburn, NY - Chipotle, NAPA, Panera Bread

Description:

Chipotle
15-Year lease I Corporate Guaranty I 2023 Construction I Scheduled Rental Increases I Leading Fast-Casual Chain
Chipotle recently signed a 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 approximately 3,500 locations
2023 construction that features high quality materials, distinct design elements, and high-level finishes
10% rental increases every 5 years throughout the primary lease term and each option period
Equipped with the new Chipotlane format and drive-thru, maximizing productivity and efficiency

Chipotle Earnings Release I Q3 2024 Highlights
Total Revenue for Q3 2024 was $2.79 billion compared to $2.47 billion in Q3 2023, a 13.0% increase
Net income for Q3 2024 was $387.4 million compared to $313.2 million in Q3 2023, a 23.6% increase
Digital sales represented 34.0% of total food and beverage revenue
Opened 86 new restaurants during Q3 2024 with 73 locations including a Chipotlane
Chipotle anticipates opening 315 to 345 new restaurants in 2025 with over 80% featuring a Chipotlane

Panera Bread & Napa Auto
Strong National Tenants | Amazon Resistant | Scheduled Rent Increases | Commitment to Site
Panera Bread and Napa Auto Parts are well-known, national retailers with a strong customer following
Corporate lease signature by Panera
Rental increases each option period provide a hedge against inflation
According to Placer.ai, Napa is in the top ¾ of all their locations nationwide and in the state of New York in terms of visits
Both tenants have shown a strong commitment to the site by exercising multiple options

Short-Term NN Leases I Fee Simple Ownership (Land & Building)
Short-term leases providing a new owner an opportunity to increase ROI by exercising lease extension options
Ideal, low management investment for a passive investor

Property /Location Highlights
Demographics In The Local Trade Area I Strong Household Income
More than 36,300 individuals reside within the 5-mile trade area
The average household income exceeds $84,900 within a 5-mile radius

Strategic Location Fronting Grant Avenue (NY Route 5) I Low Competition | Surrounding Retailers I Drive-Thru Equipped
Subject property is strategically positioned off Grant Avenue, a major north-south retail corridor, averaging over 30,500 VPD
Very low competition in the marketplace – The only Chipotle and Panera in a 20 mile radius
The immediate trade area is supported by retailers such as Walmart Supercenter, Lowe’s Home Improvement, Staples, BJ’s Wholesale Club, Big Lots and Tractor Supply Co
Directly adjacent to several major car dealerships providing a direct consumer base from which to draw