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Chipotle, Baton Rouge, LA

Chipotle, Baton Rouge, LA


Investment Summary

Price $3,980,000
Cap Rate
NOI
Lease Term 20 years
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, maintenance, and repair, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 2,300 SF
Lot Size 0.841 acres (36,634 SF)
Status Closed
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Vice Chairman
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW RARE 20-YEAR ABSOLUTE NNN LEASE TO CHIPOTLE
» New 20-year absolute NNN lease with 10% rental increases in initial term and option periods
» Strong corporate guarantee from an investment-grade national tenant (NYSE: “CMG”)
» No landlord management, an ideal opportunity for passive investors
» Chipotle is the only restaurant company of its size that owns and operates all its restaurants
» Chipotle is ranked on the Fortune 500 and is recognized on the 2023 list for Fortune’s Most Admired Companies

PROMINENT LOCATION ON DENSE RETAIL CORRIDOR
» High-visibility and easily accessible location on Seigen Lane, a dense Baton Rouge retail corridor, with access to 41,711 vehicles per day directly in front of the site
» Prime location in a major commuter corridor, with proximity to highly trafficked thoroughfares Interstate 12 (144,045 AADT), Interstate 10 (180,587 AADT), and U.S. Route 61 (53,863 AADT)
» Less than a mile from the newly built 111,300-SF Amazon Distribution Center
» Less than ten miles from Louisiana’s flagship university Louisiana State University (37,354 students; economic impact of approx. $6.1B across the state)
» Centrally located near several well-attended Baton Rouge schools and hubs including Woodlawn High School (1,403 students), Parkview Baptist School (1,270 students), Jefferson Terrace Academy (584 students), and the Mall of Louisiana (Louisiana’s largest mall with 144 stores)
» Within three miles of major hospitals such as Our Lady of the Lake Regional Medical Center (744 beds), Woman’s Hospital (228 beds), and the Ochsner Medical Complex – The Grove (150 beds)
» Surrounded by many major national brand retail tenants such as Target, Lowe’s Home Improvement, Sam’s Club, Walmart Supercenter, and several others

AFFLUENT COMMUNITY POISED FOR FUTURE GROWTH
» 178,373 residents live within five miles of the site, establishing a large and reliable customer base for the site
» High average annual household income of $108,771 within five miles (projected to increase more than 13% by 2028)
» Walking distance from several single-family housing developments such as Bristol Place Apartment Homes (312 units) and hotels such as Holiday Inn Express & Suites (104 rooms), creating a stable customer base for the site
» Projected income increases within 1-, 3- and 5-mile radii over the next four years, poising Chipotle and Baton Rouge for steady concurrent growth

NEW 2024 HIGH-QUALITY CONSTRUCTION WITH DRIVE-THRU
» New high-quality 2024 construction built to Chipotle’s latest prototype
» Site features a “Chipotlane” drive-thru for added customer convenience

Property Description

SOLD

» High-Visibility Location: This Chipotle is prominently positioned along Siegen Lane, which sees more than 41,000 vehicles traveling along each day
» Prime Setting: The location features a prime setting in a major commuter corridor with proximity to highly trafficked thoroughfares Interstate 12 (144,045 AADT), Interstate 10
(180,587 AADT), and U.S. Route 61 (53,863 AADT)
» Reliable Customer Base: The site greatly benefits from
its close proximity to residential and hotel communities including Bristol Place Apartment Homes (312 units), Holiday Inn Express & Suites (104 rooms), Home2 Suites by Hilton (94 rooms), and Tru by Hilton (90 rooms)
» Beneficial Proximity to Schools: Woodlawn High School, Parkview Baptist School, Jefferson Terrace Academy are located within five miles from the restaurant, providing consistent traffic from the combined 3,200+ students that attend these schools
» Beneficial Proximity to Hospitals: Our Lady of the Lake Regional Medical Center, Woman’s Hospital, and the Ochsner Medical Complex – The Grove are located within three miles from the restaurant, serving as another source of consistent traffic
» Excellent Demographics: Nearly 180,000 residents live within a five-mile radius of the subject property, supported by an average annual household income of over $108,000
» Set In A Major MSA: This Chipotle is located within 10 miles from downtown Baton Rouge (Louisiana’s capital with a 2023 population of 767,000) and Louisiana State University (37,354 students; economic impact of approx. $6.1B)

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