JUST SOLD | Chipotle and Mattress Firm, Brand New Two-Tenant Building - $3,466,000 | 7,480 SF | 6.6% Cap Rate
Kyle Hartung of Goodman Real Estate Services Group LLC recently brokered the $3,466,000 sale of the Chipotle and Mattress Firm two-tenant retail building located in Barboursville, West Virginia. Hartung exclusively represented the seller of the property. The buyer was a private, East Coast-based investor.
The property is a brand new two-tenant retail building featuring Chipotle (NYSE: CMG) and Mattress Firm (Nasdaq: MFRM) in Barboursville, West Virginia. Both tenants have signed long-term 10-year NNN leases and feature 10% rental increases every five years of the initial term and options. Because this building is newly constructed and both tenants have recently opened for business, this property offered the investor stable cash flow from proven tenants for years to come. In addition to featuring two of retail’s most sought after tenants, the location simply cannot be beat. The property sits at the interchange of Interstate 64 and Mall Road and is the gateway to one of the most vibrant retail trade areas in the state.
Goodman Real Estate Services Group is a commercial real estate brokerage company specializing in marketing or acquiring real estate for its clients. Kyle Hartung is the Director of Investment Sales and can be reached at 216-381-8200, Ext. 205 and looks forward to discussing any investment sales needs, whether you are interested in selling, acquiring, or evaluating the current position of your property.