May 23, 2024 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Chipotle in Pearl, Mississippi. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,018,000.
Chipotle is located at 5718 US Highway 80 in Pearl, Mississippi. The new construction Chipotle consists of a 2,325 square foot building with a Chipotlane (drive thru). Chipotle has a new 15-year Absolute NNN Lease with four (4), five-year renewal options and features 10% rent increases every five years throughout the base term and option periods. The property is extremely well located along West Government Street (US Highway 80), the area’s primary commercial corridor. The new construction Chipotle is a pad site to a Tractor Supply Co, and is surrounded by national retailers and restaurants that drive traffic to the area. The Property is surrounded by residential neighborhoods and new construction residential developments that provide a built-in customer base. The Property is 0.5-miles from Merit Health Rankin, a 134-bed hospital, and Interstate 20. Pearl is a suburb of Jackson, Mississippi, and is positioned 9-miles east of the city.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.