Chipotle - Southgate, MI

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a Chipotle Mexican Grill located at 16200 Fort St, Southgate, Michigan (“Property” or “Asset”). Chipotle Mexican Grill (“Tenant”) is operating on an absolute NNN lease with zero landlord responsibilities, 15 years of primary lease term, four, five-year renewal options, and 10% rent escalations every five-years.

Chipotle Mexican Grill is a leading fast casual restaurant chain operating over 4,000 restaurants in the United States, Canada, with a growing international footprint. Chipotle is a publicly traded company (NYSE: CMG) headquartered in Newport Beach, California, the company reported revenue of approximately $11.9 billion in 2025, with net income of $1.54 billion and total assets of $8.99 billion. Chipotle maintains a strong balance sheet with no long-term debt, underscoring its financial stability and creditworthiness as a tenant.

The Property occupies a strategic position in Southgate, Michigan, just 11 miles south of Detroit and 7 miles east of Detroit Metropolitan Wayne County Airport, one of the nation's busiest transportation hubs with over 33 million annual passengers. Situated along Fort Street, the Property benefits from exceptional visibility and traffic exposure with over 42,000 vehicles per day.

The site sits within a five-mile radius encompassing more than 187,000 residents across 80,000 households with an average household income exceeding $89,000, positioning it within a strong, densely populated market.

The Property functions as an outparcel to Extra Space Storage and Meijer, capturing access to their combined 2.1 million annual visitors(Placer.ai). Its location within a concentrated retail corridor anchored by Southgate Shopping Center further enhances its appeal. Adjacent major retail destinations include Southgate Ford, Lincoln, Lowe's, and Meijer which generates a combined 4 million annual visitors(Placer.ai), creating exceptional customer flow and establishing the site as a proven retail node with sustained market demand.