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Chipotle Drive-Thru Trades in Pre-Sale to 1031 Investor
Hanley Investment Group Real Estate Advisors arranged the pre-sale of a new property leased to Chipotle Mexican Grill with a drive-thru “Chipotlane” at Anatolia Marketplace shopping center in Rancho Cordova, , an affluent suburb of Sacramento. The absolute NNN ground lease, which sold for $4.34 million, marks the 19th Chipotle property sold by Hanley Investment Group in the past 36 months.
EVPs Bill Asher and Jeff Lefko represented the seller, Sacramento-based Anatolia Marketplace, LLC, and the buyer, a private 1031 exchange investor based in the Bay Area.
“We generated multiple offers and procured a 1031 exchange buyer within three weeks of marketing the property, a testament to the strength of the location and credit tenancy,” said Asher. “We secured the buyer while the property was under construction and closed escrow approximately one month before Chipotle opened for business and started paying rent.” Chipotle is expected to open in early September 2024.
The 2,325-square-foot Chipotle building sits on a 0.77-acre parcel at 4001 Sunrise Blvd. Chipotle is expected to open there in early September.
Pictured: A representative Chipotle drive-thru.
- ◦Sale/Acquisition
