| New Construction Chipotle | 2,325-Square-Foot Freestanding Restaurant Built In 2025 | Most Recent Prototype |
| Absolute NNN Lease Structure | Tenant Responsible For All Taxes, Insurance, Maintenance, Roof & Structure |
| Long-Term Lease Commitment | 14 Years of Remaining Lease Term Through August 2030 |
| Corporate Guaranty From Chipotle Mexican Grill, Inc. | Investment-Grade National Restaurant Operator With Over 4,000 Locations |
| Scheduled Rental Growth | ~10% Rent Increase Every Five Years | Additional Increases During Each Of Four 5-Year Renewal Options |
| Strong Contractual Yield Growth | Current 5.15% Cap Rate Increasing To 5.63% In 2030 And 6.16% In 2035 |
Scott Wiles
Marcus & Millichap