Overview

Description

• The tenant recently signed a brand new 10-year lease with 4 (5-Year) options to extend, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., an investment grade, nationally recognized tenant with over 3,000 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• Chipotle Mexican Grill, Inc. is one of the leading fast-casual Mexican restaurant chains in the U.S. with over 3,000 locations

• Chipotle is located near the signalized, hard corner intersection of NY-30 and Veeders Mill, averaging more than 17,800 combined vehicles passing by daily
• Drive-thru stores generate significantly higher sales and increase productivity
• Subject property benefits from significant street frontage along Veeders Mill and NY-30, promoting excellent visibility and access for customers
• Asset is surrounded by shopping centers such as Sanford Farms (200,000 SF), Amsterdam Commons (50,000 SF), and the Shoppes at Dove Creek (87,000 SF), which feature national/credit tenants such as Walmart Supercenter, Target, Starbucks, Taco Bell, Dollar Tree, Kohl’s, and more

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