Overview

Description

15 Maplewood Drive is a opportunity to purchase a Net Leased Investment property with a long term lease by Chipotle. Chipotle is currently completing their construction and is scheduling to open in June.

Investment Highlights-
New 15-Year Lease with 10% Increases Every 5 Years

Enhanced Value in Oversized 2.33-Acre Parcel with “Chipotlane” Drive-Thru

Strong Corporate, Investment Grade Retailer (NYSE: CMG)

Signaled Corner, High Traffic Location to 37,638 VPD

High Placer.ai Counts from Neighboring Uses

Industry Leader with 3,000+ Locations and $7.5B in Revenue

New 15-Year Corporate Lease - The Tenant, Chipotle Mexican Grill, Inc., is subject to a new 15-year lease to commence in Summer 2024. The corporate lease features 10 percent rental increases every five years during the base term and option periods, providing an excellent hedge against inflation. Chipotle will operate in a 5,468-square-foot store, with 3,100 square-feet on the ground floor. There is a 2,200-square-foot lower level but it will not be used by the tenant. The site will also feature a "Chipotlane" modernized drive-thru. A longtime leader and innovator in the food industry, Chipotle is publicly traded on the New York Stock Exchange under the ticker NYSE: CMG.

Oversized 2.33-Acre Parcel – The Tenant occupies a 2.33-acre parcel which is significantly larger than typical for Chipotle. On average, Chipotle locations occupy between 0.50-1.0-acres. This enhances the security of the investment by offering long-term flexibility. The developer completed various layout configurations for this parcel including two pad buildings as well as a strip center, but elected for the faster and less capital intensive option of retrofitting this former bank branch. The buyer will inherit this long-term upside to maximize the lot’s area should the tenant vacate.

Prominent, High Traffic Location - Chipotle is prominently located along Maplewood Drive with fully signalized access between the east and westbound lanes of Route 422. Route 422 is the area’s primary route, averaging 37,638 vehicles per day. The property is at the center of the Douglassville retail node.

*Owners are PA Licensed Real Estate Agents

Please Contact Listing Agent for more information,

Highlights

• Days on Market: 23
• Heating: Central

---