| Chipotle Mexican Grill | Strong corporate-backed lease | $70 billion market cap | $11.9 billion total revenue (2025) |
| 2025 building conversion | Attractive modern building architecture and design | Spacious outdoor patio | Digital order “Chipotlane” drive-thru pickup |
| New 15-year passive double-net (NN) lease | Virtually no landlord responsibilities | 10% rent increases every 5 years |
| Real estate advantage | Adjacent to the famous Pendleton Round-Up Rodeo Grounds – Draws over 50,000 attendees annually |
| Limited national QSR competition | Supply-constrained market | Fills gaps in local dining landscape |
Ryan Bennett
Lee & Associates
