The subject property is a +/- 2,392 SF freestanding building formerly occupied by Burger King. Chipotle Mexican Grill has executed a brand new 15-year absolute NNN lease corporately guaranteed by Chipotle Mexican Grill, Inc. (NYSE: CMG) to take the entire building and drive-thru. The lease includes 10% rental increases every 5-years in the primary term and in the (4) 5-year option periods.
Located on South Columbia Avenue (Highway 21) this +/- 1.0 acre parcel sits in the heart of Rincon’s retail corridor and shadows well-performing retailers (Walmart Supercenter, Kroger Marketplace, and Lowe’s Home Improvement) and QSRs (Starbucks, Chick-fil-a, McDonald’s, Arby’s, KFC, Taco Bell, and Popeye’s). This site has excellent visibility and access from South Columbia Avenue (29,400 Vehicles Per Day) and shares a rear access drive which connects to the lighted intersection of Fort Howard Road and South Columbia Avenue. This is an excellent opportunity for an investor to purchase a stable, long term, corporately guaranteed investment with zero landlord responsibility.