Chipotle - Compass Creek
Retail | 5.00% CAP | 2,325 SqFt
Marketing description
Atlantic Capital Partners is pleased to exclusively present a premier net lease ground lease opportunity, a Chipotle Mexican Grill located at 510 Compass Point Plaza within the Compass Creek mixed-use development in Leesburg, Virginia. This 2,325 square foot building situated on 1.14 acres offers investors the opportunity to acquire a long-term, corporately guaranteed ground lease asset in one of the most affluent and fastest-growing submarkets in the Mid-Atlantic.
Leesburg serves as the commercial and cultural hub of Loudoun County, Virginia, the wealthiest county in the United States by median household income. The town has experienced extraordinary growth driven by its proximity to Dulles International Airport, the Silver Line Metro extension, and the Dulles Technology Corridor, home to the world's largest concentration of data centers. The result is a sustained influx of high-income households and a retail trade area with virtually no ceiling on consumer demand.
The property sits at the heart of Compass Creek, Leesburg's premier retail destination, with direct access to over 100,000 combined vehicle trips per day across the Leesburg Bypass (US 15/VA 7), the Dulles Greenway (VA 267), and Compass Creek Parkway. Washington, DC is 38 miles east, providing the scale and density of a major metro market while the site benefits from the pricing and growth trajectory of a high-growth suburban corridor.
Investment highlights
LONG-TERM GROUND LEASE WITH RENT INCREASES - 15-year primary term commencing June 30, 2022 with two (2) 5-year renewal options; rent escalations built into option periods
CORPORATE GUARANTY FROM INVESTMENT GRADE TENANT - Chipotle Mexican Grill, Inc. (NYSE: CMG) provides an absolute corporate guaranty through the primary term; one of the strongest QSR brands in the nation with 3,000+ locations
NNN GROUND LEASE - ZERO LANDLORD RESPONSIBILITIES - Tenant responsible for all maintenance, taxes, and insurance on the improvements; landlord collects rent with no management obligations
EXCEPTIONAL DEMOGRAPHICS & AFFLUENT TRADE AREA - Average household income exceeds $213,821 within 1 mile and $212,330 within 5 miles; total population of 114,844 within 5 miles
HIGH-VISIBILITY LOCATION WITH STRONG TRAFFIC COUNTS - Situated at the intersection of major arterials with 61,500 VPD along the Leesburg Bypass (US 15/VA 7), 32,900 VPD along the Dulles Greenway (VA 267), and 14,500 VPD along Compass Creek Pkwy
STRATEGIC PROXIMITY TO MAJOR METRO MARKETS - Located 38 miles west of Washington, DC and 72 miles southwest of Baltimore, MD; Leesburg serves as a primary retail and dining destination for the rapidly expanding Loudoun County, the wealthiest county in the United States
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