34712 Center Ridge Road

For sale to qualified investors is the fee simple interest in a corporate lease with Chipotle Mexican Grill, Inc. (Nasdaq: CMG), located in North Ridgeville, Ohio. The property is located on Center Ridge Road directly in front of Marc’s Grocery, a 55,000 SF regional grocery chain providing a steady flow of daily needs customers to the property. The building was completed in the fall of 2023, and provides over 14 years of corporately guaranteed base term remaining plus options. The rent increases every 5 years at a rate of 10% starting in year 6 of the lease. North Ridgeville has been the fastest growing suburb in the greater Cleveland, Ohio, area during the past 20 years. From 2021 to 2022 alone, the population grew another 1.71% while median incomes grew another 8.57% according to DataUsa.com. According to Nerdwallet.com, North Ridgeville is ranked in the 4th best place for homeownership in Ohio. For these reasons, Chipotle signed their 15 year lease structure for this location. The property is within a few blocks of the North Ridgeville High School, and is nearby the community’s other retail and shopping amenities.

Chipotle - New 15 Year NNN Lease

YEAR 1-5: 5.5%

YEAR 6-10: 6.05%

YEAR 11-15: 6.66%