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Chipotle, Calhoun, GA

Investment Summary

Price $3,455,636
Cap Rate
NOI
Lease Term 15 years (14+ years remaining)
Lease Type Absolute NNN lease, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2022
Building Size 2,325 SF
Lot Size 1.07 acres (46,609 SF)
Status Closed
Lead Brokers Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Jack Hinson
Brokerage
704.572.9921
j.hinson@cushwake.com
CA RE License #02059267

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

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

Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» New 15-year absolute NNN lease with scheduled rental increases in initial term and option periods
» Strong corporate guarantee from publicly traded tenant (NYSE: “CMG”)
» No landlord management, ideal for passive investors
» Chipotle is the only restaurant company of its size that owns and operates all of its restaurants
» Chipotle is ranked on the Fortune 500 and is recognized on the 2023 list for Fortune’s Most Admired Companies

ONLY CHIPOTLE WITHIN A 22-MILE RADIUS, LOCATED JUST OFF OF INTERSTATE 75
» Prominent visibility and access to 31,800 vehicles per day along State Highway 53 and 74,400 vehicles per day on I-75
» Strong retail synergy located 0.5 miles off of I-75 (main north/south arterial for east coast), with large national retailers including The Home Depot, ALDI, Kroger, Chick-fil-A, Tractor Supply, Dollar General, Starbucks, Ruby Tuesday, and many others
» First Chipotle in Calhoun, GA with the closest location 22 miles away
» Located < 1 mile of the Calhoun Outlet Marketplace, which is home to over 50 stores, including Polo Ralph Lauren Factory Store, Coach Factory Store, and Nike Factory Store » Strong one-mile average household income of $82,988 CHIPOTLE IS SURROUNDED BY OVER 2,000,000 SF OF LEASED INDUSTRIAL SPACE – LARGE DAYTIME AND COMMUTER POPULATION
» Just off of I-75, Calhoun is nearly equidistant from Atlanta and Chattanooga, providing mission critical sites for several global industrial/textile companies
» Some major industrial companies with facilities in the area include the Coca-Cola Bottling Company, Shaw Industries, Mohawk Industries (HQ in Calhoun), Apache Mills (HQ in Calhoun), Mannington Commercial, M&S Logistics, and Racemark International, serving as major traffic drivers to the site
» These large companies have helped to create a strong demand for industrial space in the area, increasing the need for more restaurants and other amenities for workers

NEW 2022 CONSTRUCTION WITH DRIVE-THRU AND UPCOMING HIGHWAY SIGNAGE
» New high-quality 2022 construction built to latest Chipotle prototype
» Property features I-75 highway signage, attracting nearby commuters to the site
» Site features a “Chipotlane” drive-thru and patio seating for added customer convenience

Property Description

SOLD

» This Chipotle is strategically located along Highway 53 (31,800 AADT)
» The location serves as the first Chipotle in Calhoun, GA with the closest location 22 miles away
» There is a total of 2.1M square feet of industrial space close to the property including Mohawk Industries (HQ in Calhoun), Shaw Industries, Apache Mills
(HQ in Calhoun), Mannington Commercial, M&S Logistics, Racemark International, and many others
» The property has a five-mile population of 34,297 residents and strong three-mile average annual household income of$77,140, providing this new Chipotle with a strong built-in potential customer base
» National tenants immediately surrounding the site include The Home Depot, ALDI, Kroger, Walmart Supercenter, Harbor Freight Tools, Walgreens, Taco Bell, Chick-fil-A, Ross, AutoZone, Starbucks, and many others

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