July 26, 2019 – Jeremy Black and Brad Canova of Horvath & Tremblay have successfully completed the sale of Chipotle in Marietta, Georgia. Horvath & Tremblay procured the 1031 exchange buyer to complete the transaction at a sale price of $2,703,061, a 4.9% cap rate.
Chipotle fully occupies a free standing 3,500-square foot building located along Sandy Plains Road. As a commitment to this location Chipotle is paying for their own renovations and adding a drive through at no cost to the landlord. They have also signed a new 15-year ground lease with 10% rental escalations every five years throughout the lease term and at the beginning of each of the four, 5-year option periods. The property is surrounded by impressive demographics with household incomes that exceed $145,000 in the one mile, three-mile, and five-mile radius. Surrounding retailers include Publix, Kroger, Target, Chick-Fil-A, and many more.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the 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.