Chipotle @ World Golf Village
Brand New 15-Year Absolute NNN Lease
Marketing description
CBRE is pleased to present the exclusive listing for this Brand-New Chipotle property located at the New Walmart Supercenter Retail Development – World Commerce Center in Saint Augustine, Florida. This property is located in St. Johns County — one of the fastest growing markets in the country. The site is situated on International Golf Parkway, the market’s primary interstate interchange arterial and positioned directly in front of a new Walmart Supercenter – the highest frequency retail traffic generator in the country. The Chipotle is equipped with a Chipotlane® drive-thru, enhancing throughput, convenience, and long-term tenant performance. This format has become a key driver of sales for the brand and reinforces the asset’s long-term viability.
This is a 15-year absolute triple-net NNN lease guaranteed by investment grade Chipotle Mexican Grill, Inc. (S&P Rated ‘A-’), providing rental increases of 10% every five years including options with no landlord management obligations.
Investment highlights
- Brand New 15–Year Lease with Chipotle
- Chipotle is investment grade credit boasting an S&P Rating of ‘A-’ and is among the most sought-after retailers for 1031 exchanges
- Absolute NNN Lease – No landlord management obligations
- Fixed rental increases throughout entire lease including options
- Out parcel to BRAND NEW WALMART SUPERCENTER – Walmart is the highest frequency retail traffic generator in the country
- St. Johns county is among one of the fastest growing markets in the country and this site is located directly in the strongest and fastest growing retail nodes in the county
- Part of the affluent World Golf Village corridor – The fastest growing suburban zone in St. Johns County with Avg HH Incomes exceeding $160K+
- Tremendous visibility directly on International Golf Parkway – the market’s primary interstate interchange arterials
- Florida has NO STATE INCOME TAX
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