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JLL is pleased to offer for sale the fee simple interest in a corporate Chipotle (the “Property” or “Asset”) located in the Bronx, New York. Chipotle is a market leader in the fast-casual dining sector specializing in its made-to-order tacos, burritos and specialty items with nearly 2,900 restaurants and total system-wide revenue of over $7 billion. The Property is situated in a densely populated area of the Bronx just off the Hutchinson River Parkway, one of the primary thoroughfares (88K+ VPD) in the borough, offering easy accessibility to multiple interstates, Queens, Manhattan, Brooklyn and the LaGuardia Airport. The Asset is encumbered by a modified gross lease featuring just under ten years of primary lease term remaining and attractive rental escalations. This offering presents the unique opportunity to acquire a long-term investment leased to an industry leading and Fortune 500 company in an urban core district of New York City.
- Includes ±10 years of lease term remaining with minimal landlord responsibilities
- Industry leading fast-casual restaurant tenancy with approximately 2,900 restaurants
- Chipotle recently reported a quarterly system-wide revenue increase of 21.9% year-over-year
- Trailing twelve-month total revenue at the end of Q3 2021 was $7.194 billion
- The asset is located in a densely populated area of NYC with 18,000 residents within a half-mile and 93,540 residents within a one-mile radius
- Situated just off the Hutchinson River Parkway (88K+ VPD), directly along Westchester Square (20K+ VPD)
- Located just blocks away from the Westchester commuter train stop, drawing additional traffic into the immediate vicinity of the asset
- The Bronx has the highest growth rate among NYC's five boroughs