April 1, 2025 – Kyle Danielson, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Chipotle in Harrisonburg, Virginia. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $2,666,667.
Chipotle is located at 1657 Stone Spring Road in Harrisonburg, Virginia. The new construction Chipotle has a 15-year Triple Net (NNN) Lease with four (4), 5-year renewal options. The lease features attractive 10% rent increases every five years throughout the primary lease and at the start of each renewal option. The Property features a Chipotlane (drive-thru) and outdoor patio space, both designed to enhance the customer experience and drive sales. The new construction Chipotle is well located along Stone Spring Road (VA Route 280), one of the area’s primary commercial and commuter corridors. The Property is positioned in the heart of a large commercial development and is surrounded by new construction retailers and restaurants, as well as new residential developments, all of which drive traffic to the area and provide a built-in customer base. The Property offers convenient access to Interstate 81 and US Highway 33, as well as to Sentara RMH Medical Center, James Madison University, and Downtown Harrisonburg.
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.