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CrownPoint Partners Facilitates Sale of Newly Built Chipotle in Toledo
CrownPoint Partners has completed the sale of a new construction, single-tenant, net-leased property occupied by a Chipotle Mexican Grill Drive-Thru in Toledo, Ohio, for $2.2 million.
Julius Swolsky and Shannon Bona, Managing Partners and Co-Founders of CrownPoint Partners, represented the seller, DWJS LLC, an Ohio-based developer and repeat client, in association with Joe Swolsky, Principal of Prime Retail Advisors in Toledo. The buyer was a private investor from the Mid-Atlantic region.
The property, located at 3360 Glendale Avenue, features a 2,325-square-foot building with a “Chipotlane” drive-thru on a 0.68-acre site. The asset is secured by a long-term 15-year triple-net lease featuring 10% rental increases every five years, along with four additional five-year renewal options. The property sits directly behind the University of Toledo Health Science Campus, the University of Toledo Medical Center and the Rehabilitation Hospital of Northwest Ohio.
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