Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GUARANTEED LEASE WITH SCHEDULED RENTAL INCREASES
» 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
» High-quality 2023 construction featuring the latest Chipotle prototype with a dedicated Chipotlane drive-thru

TROPHY LOCATION IN A DENSE RETAIL CORRIDOR WITH ACCESS TO OVER 130K VEHICLES PER DAY
» Signalized, hard corner location with excellent visibility and access from Frederick Boulevard & Turnpike Road, with a combined traffic count of 48,000 vehicles per day
» Prime retail corridor surrounded by major retailers such as Walmart Supercenter, Kroger, T.J. Maxx, CVS, Walgreens, Chick-fil-A, Wells Fargo, Waffle House, Panda Express, Advance Auto Parts, and more
» Highly accessible location situated just off Interstate 264, which receives over 67,000 vehicles per day
» Minutes from Bon Secours Maryview Medical Center (346 beds), and Tidewater Community College – Portsmouth Campus (over 3,700 students)

CENTRAL LOCATION WITH EXCELLENT SUBURBAN DEMOGRAPHICS NEAR VIRGINIA’S MOST POPULOUS CITIES
» Situated in a densely populated area, with over 225,222 residents within a five-mile radius, providing a large and reliable customer base for the site
» Average annual household income of $78,607 within five miles (projected 16% increase by 2027)
» Central location near three of Virginia’s most-populous cities; Virginia Beach, Norfolk, and Chesapeake with a combined population of 939,788
» Well-positioned in the Hampton Roads region, a diverse, and dynamic, area with more than 1.8 million residents
» Beneficial proximity to Norfolk Naval Station, the world’s largest naval station, and Norfolk International Airport which (over 3.8 million annual passengers in 2019)

Property Description

» Chipotle is located at a signalized hard corner with excellent visibility and access from Frederick Boulevard & Turnpike Road, with a combined traffic count of 48,000 vehicles per day, and is also highly accessible being situated just off Interstate 264, which receives over 67,000 vehicles per day
» Well-positioned in a prime retail corridor surrounded by major retailers such as Walmart Supercenter, Kroger, T.J. Maxx, CVS, Walgreens, Chick-fil-A, Wells Fargo, Waffle House, Panda Express, Advance Auto Parts, and more
» Conveniently located less than two miles from Bon Secours Maryview Medical Center (346 beds) and just minutes from Tidewater Community College – Portsmouth Campus (over 3,700 students)
» The site is situated in a densely populated area with over 225,222 residents within a five mile radius and an average annual household income of $78,607, providing a large and reliable customer base for the site
» Central location near three of Virginia’s most populous cities; Virginia Beach, Norfolk, and Chesapeake with a combined population of 939,788
» Beneficial proximity to Norfolk Naval Station, the world’s largest naval station, and Norfolk International Airport which served over 3.8 million passengers in 2019