Property Highlights
Atlantic Capital Partners is pleased to offer for sale a newly constructed freestanding Chipotle with drive-thru, also known as their “Chipotlane” concept. The NNN lease features a 10-year initial term, 10% increases every 5 years and a corporate guarantee from Chipotle Mexican Grill Inc. Fee simple ownership of the land and building make this an ideal 1031 up-leg and boosts after tax returns. The property is currently under construction with a scheduled landlord turnover date of January 15, 2022. Chipotle’s rent will commence the earlier of opening or 120 days following turnover. The property is shared with Lola Beans, a successful drive thru coffee house based in Chattanooga, and Refined Looks, a cosmetic surgery practice with locations in TN, GA and AL.
- Brand new “Chipotlane” drive-thru in tax-free state
- Long-term corporately guaranteed NNN lease provides passive ownership and stable cash flow
- Fee simple ownership allows for depreciation of the building boosting after tax returns
- Recession and pandemic resistant, Chipotle’s sales increased 7% in 2020 despite the pandemic
- 10% rent increases every 5 years provide excellent hedge against inflation
- Interstate location 0.15 miles from I-75 interchange
- Shared traffic light with high volume Publix Super Market
- Excellent underlying real estate fundamentals with direct frontage to Paul Huff Parkway and full access from signalized intersection
- Large addressable market, nearest Chipotle is over 20 miles away
- Chipotle is one of the World’s most favored fast-casual restaurants with over 2,765 restaurants and $6 billion in revenue
- Tennessee has no state income tax