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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a brand-new construction, single tenant Chipotle (the “Property” or “Asset”) in Batavia, OH. Chipotle is on a 10-year lease with contractual increases of 10.0% every 5 years and minimal landlord responsibilities. The lease also features a corporate guaranty from Chipotle Mexican Grill, Inc. minimizing any short-term investment risk. The Property offers a rare opportunity to acquire an industry leading tenant on a long-term lease.
The Asset is located in Batavia, a submarket within Clermont County, where there has been 24.2% growth over the past two years and the average annual household income within a 1-mile radius is nearly $120,000. The Property is accessible to the highly-trafficked State Road 32 (“SR-32”) with direct exposure to 36,000 VPD. Clermont County has received over $162 million to investment in this corridor. Upon completion, officials project an increase to 79,000 VPD, 3,500 additional jobs created, and $1.5 billion in economic impact for the surrounding community.
Additional Broker: Bill Poffenberger
License #: OH - 352247
FAVORABLE LEASE ECONOMICS
- Brand-new construction building leased to Chipotle on a 10-year lease with a corporate guaranty requiring minimal future landlord responsibilities
INDUSTRY LEADING TENANCY
- Chipotle Mexican Grill, Inc., is one of the largest and most recognized fast-casual restaurant chains in the world with over 2,918+ locations across North America and Europe
SURROUNDED BY FAVORABLE DEMOGRAPHICS
- The Property is in a developing area with 24.2% population growth and an average income of $119,334 within a 1-mile radius
SITUATED NEARBY A DOMINANT HOSPITAL SYSTEM
- The Asset is proximate to Mercy Health, a regional hospital in Batavia that has 165+ hospital beds and nearly $600M in revenue
PROXIMITY TO STRONG TRANSPORTATION LINKS
- Property is located just off SR-32, which will have over $162 million of investments to bring VPD to 79,000 by 2030, create over 3,500 new jobs, and bring $1.5 billion of economic impact into the area