NNN Chipotle - Corporate Guaranty
For sale to qualified investors is a rare opportunity to own a brand new, triple-net leased Chipotle in the Pittsburgh MSA. The lease is corporately guaranteed by Chipotle Mexican Grill, Inc. (NYSE: CMG), and offers a unique and advantageous lease structure for the investor. The initial 11 year lease term commenced April 2015, and has built-in increases of 10% every five years during the initial term and options. The property is ideally located near the entrance to Indiana University of Pennsylvania, which has 15,000 undergraduate and graduate students within walking distance to the restaurant, in addition to other University employees and faculty. Surrounding the property are many national retail tenants, including Martin’s Grocery, T.J.Maxx, Jo-Ann, Walmart, Petco, Staples, Ruby Tuesday, Dunkin Donuts, McDonald’s, Starbucks, Wendy’s, Burger King, Arby’s, and many others. In addition to the property’s college-campus location, corporate guaranty, unique term and triple-net structure, this property also allows for building depreciation, resulting in a much higher return than a traditional ground lease.