Chipotle - Brooklyn, OH

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the ownership interest in a 2,375 square foot freestanding, single-tenant corporate Chipotle located at 7320 Northcliff Ave in Brooklyn, OH ("Property" or "Asset").

The Asset is 100% leased to Chipotle Mexican Grill, Inc. (the "Tenant"), the second largest Mexican chain restaurant in the world, with 4,050+ stores and 10 consecutive years of revenue growth. The Property features a 15.0-year primary lease term with ±14.2 years remaining, 10.0% rent escalations every five-years, four, five-year renewal options and minimal landlord responsibilities.

Brooklyn, Ohio is located in Cuyahoga County, the second largest county in Ohio, which is known for its diverse economy and educational institutions. Due to the area's strong road networks, nearby access to Cleveland Hopkins International Airport (6 miles) and the Port of Cleveland, the area's history is rich in manufacturing which has supported a recent boom in healthcare, biomedical and financial sectors. The Cleveland retail market and submarkets have demonstrated strong fundamentals, with retail availability under 2% in the city of Brooklyn.

Most notably, the Property is located as an outparcel to Ride Park Square Shopping Center, a 386,754 SF center with 46 tenants. Ridge Park Square is a regionally dominant shopping destination, generating over 6.9 million visits annually and ranking as the 2nd most visited shopping center in the state of Ohio. Additionally, the Property possesses frontage along Ridge Road and Northcliff Avenue with direct visibility to more than 33,350+ vehicles per day and benefits from the Interstate 480 interchange (150,000+ VPD), that feeds directly to Ridge Road and the many points of ingress and egress for Ridge Park Square.

This unique opportunity allows investors the ability to acquire an outparcel to a national ranking retail center located in Brooklyn’s dense commercial corridor with minimal landlord responsibilities. The offering provides investors with the opportunity to acquire a recently constructed, purpose-built Chipotle with long-term, corporately-guaranteed, passive income in a strong submarket of Cleveland.