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Chipotle, Lawrenceville, GA

Chipotle, Lawrenceville, GA


Investment Summary

Price $3,549,000
Cap Rate 4.65%
NOI $165,000
Lease Term 15 years
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 2023
Building Size +/- 2,325 SF
Lot Size 1.135 acres (49,441 SF)
Status Available
Lead Brokers 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

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

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 an investment-grade national tenant (NYSE: “CMG”)
» No landlord management, ideal 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

AFFLUENT LOCATION WITH ACCESS TO OVER SIX MILLION PEOPLE IN THE ATLANTA TRADE AREA
» 266,204 residents live within a five-mile radius of the property (21% growth since 2010)
» High average annual household income of $89,392 within five miles
» Average annual income projected to increase 15% by 2028, poising Chipotle and Lawrenceville for significant growth
» Gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row

PROMINENT LOCATION IN A DENSE RETAIL CORRIDOR WITH ACCESS TO OVER 362K VEHICLES
» Located at a four-way signalized intersection with access to 87,300 combined vehicles per day
» Prominent location off Interstate 85 with excellent freeway visibility and access to 274,000 vehicles per day
» The property is in a prime location within a dense retail corridor with neighboring retailers including Walmart, Kroger, Best Buy, Chipotle, Publix, City Farmers Market, Chick-fil-A, Dollar General, Walgreens, Advance Auto Supply, Guitar Center, Family Dollar and many others
» The surrounding area is also home to a number of schools, including Lawrenceville High School (319 Students), Central Gwinnett High School (2,378 Students), and Gwinnett Technical College (8,876 Students)

NEW 2023 CONSTRUCTION
» New high-quality 2023 construction built to latest Chipotle prototype
» Site features a “Chipotlane” drive-thru for added customer convenience

Property Description

» This Chipotle has a trophy location near the signalized intersection of Club Drive and Pleasant Hill Road (combined 87,300 AADT), one of Lawrenceville’s busiest intersections
» The property is in a prime location within a dense retail corridor with neighboring retailers including Walmart, Kroger, Best Buy, Chipotle, Publix, City Farmers Market, Chick-fil-A, Dollar General, Walgreens, Advance Auto Supply, Guitar Center, Family Dollar, and many others
» 266,204 residents live within five miles of the property (21% growth since 2010) with a high average annual household income of $89,392 within a five-mile radius and is projected to increase 15% by 2028, poising Chipotle and Lawrenceville for significant growth
» Projected population and income increase within 5-, 10-, and 15-mile radii over the next five years poise Chipotle and Lawrenceville for steady concurrent growth
» The site is a gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)

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