Largo, FL - Chipotle

Description:

• Chipotle recently signed a brand new 15-year lease with 4 (5-year) options to extend
• The subject property is a former Burger King that is currently under going renovations to be a new build Chipotlane, targeting an August 2024 grade opening
• The lease is corporate guaranteed by Chipotle Mexican Grill, Inc., a publicly traded
(NYSE: CMG) and nationally recognized tenant with over 3,400 locations
• 10% rental increases every 5 years throughout the initial term and at the beginning of each option period

• Chipotle is strategically positioned as an outparcel to a Walmart Supercenter
• The immediate trade area is supported by surrounding retailers such as Walmart, ALDI, Wawa, Dunkin’ Donuts, Dairy Queen, T.J. Maxx, KFC, Office Depot and more
• The subject property fronts Missouri Ave N. (34,100 VPD) and is equipped with drive-thru and has multiple points of access, providing ease and convenience for users
• The center is strategically located in the heart of the retail trade area covering the western part of Pinellas County