x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

Chipotle Ground Lease, Friendswood, TX

Chipotle Ground Lease

Price $2,118,000
Cap Rate
NOI
Lease Term 20 Years
Lease Type Absolute NNN Ground 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 2019
Building Size 2,315 SF
Lot Size 0.74 acres (32,154 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM ABSOLUTE NNN CORPORATE GROUND LEASE
» 20-year NNN ground lease with 10% rental increases every five years, providing a hedge against inflation
» Corporate lease guaranteed by Chipotle Mexican Grill (NYSE: “CMG”), an internationally recognized tenant with over $4.9 billion in annual revenue
» No landlord management, tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot

FEATURES DRIVE-THRU PICK-UP WINDOW – FOR CUSTOMERS ORDERING VIA THE CHIPOTLE APP OR ONLINE
» In the most recent quarter, digital sales grew 65.6%, accounting for 12.9% of the chain’s sales
» ‘Chipotlanes’ will be located at new Chipotle Locations

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 27,000 vehicles per day on South Friendswood Drive
» Immediate access to East Parkwood Drive, which experiences a high traffic count of 33,000 vehicles per day near the property
» Infill location in a dense retail cluster near several large shopping centers and notable retailers, including H-E-B, 24 Hour Fitness, Walgreens, Starbucks, Wells Fargo, and more
» Directly adjacent to future developments that will include well-known retailers like Chick-fil-A and Valvoline

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Close to several large schools, including Clear Springs High School (2,529 students), Friendswood High School (2,175 students), and Friendswood Junior High School (1,513 students)
» Average household income is $169,093 within one mile of the property, and average household incomes within three- and five-mile radii greatly exceed $100,000
» 147,137 residents live within a five-mile radius
» One of Houston’s fastest growing communities, Friendswood has a population of 40,181 as of 2018, representing an 11.9% increase from 2010



Property Description

SOLD
The property is strategically located on South Friendswood Drive, with excellent visibility and access to 27,000 vehicles per day. South Friendswood Drive provides immediate access to East Parkwood Drive, which experiences a high traffic count of 33,000 vehicles per day near the property. The property is located in a dense retail cluster and is near several large shopping centers and notable retailers. Major tenants near the property include H-E-B, 24 Hour Fitness, Walgreens, Starbucks, Wells Fargo, and more. The property is also directly adjacent to future developments that will include well-known retailers like Chick-fil-A and Valvoline.

The property benefits from its prime location near schools and residential neighborhoods. The property is close to several large schools, including Clear Springs High School (2,529 students),
Friendswood High School (2,175 students), and Friendswood Junior High School (1,513 students). Additionally, the property is located in an affluent market. The average household income is
$169,093 within one mile of the property, and average household incomes within three- and fivemile radii greatly exceed $100,000.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link