Chipotle - Richmond, IN

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a 2,350 square foot freestanding, single-tenant corporate Chipotle located at 2511 Chester Boulevard in Richmond, Indiana (“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 3,400+ stores and 8 consecutive years of revenue growth. Chipotle will operate on a rare 15.0-year lease with 10.0% rent escalations every 5-years, four, five-year renewal options and minimal landlord responsibilities.

The Asset is strategically positioned as an outparcel to a Meijer grocery store that generates 2.0 million visits annually and that is the only Meijer within a 30-mile radius. The Property has frontage along Chester Boulevard with direct visibility to more than 16,000 vehicles per day and is just south of Interstate 70 (38,000 VPD).

The Property sits adjacent to Indiana University East, Ivy Tech Community College and Purdue Polytechnic Richmond with more than 4,490+ students enrolled. Notably, the Property is adjacent to Reid Health, a 223-bed regional referral medical center serving over 280,000 people throughout East Central Indiana and West Central Ohio. Reid Health has more than 3,500 employees and helps create more than 7,500 other jobs in the local economy.