Chipotle - Dunwoody, GA (Atlanta MSA)
PUBLIX-ANCHORED SHOPPING CENTER | 10% RENT BUMP IN 2028 | LOW $135K RENT | ATLANTA MSA
Marketing description
JLL is pleased to exclusively offer for sale the Chipotle Mexican Grill in Dunwoody, GA (the “Property“ or the ”Asset”). Chipotle (the “Tenant“) operates on a 10-year Absolute NNN lease with 7 years remaining, a 10% rent bump in 2028 and three, 5-year extension options. The Property is situated within a Publix-anchored shopping center that attracts over 2 million visits annually. The Asset’s positioning along Roswell Rd provides clear exposure to over 30,000 VPD and is directly across the street from Ellison Heights, a class-A apartment complex delivered in 2024.
Dunwoody is a northern suburb of Atlanta comprising over 50,000 residents. The city is regarded as a highly affluent community with average household incomes exceeding $200,000 within 1-mile of the Property. Dunwoody has experienced a plethora of momentum in recent years through several major developments including the Perimeter, a mixed-use community surrounding Perimeter Mall, Atlanta’s most popular shopping center. Over 3.3M SF of projects are underway at the Perimeter and nearly 2,500 residential units have been delivered within the last 3 years. Several Fortune 500 companies have footprints in the Perimeter, including Insight Global’s HQ and T-Mobile’s regional corporate office.
The offering presents investors with an attractive opportunity to acquire long-term, passive cash flow guaranteed by one of the fastest growing QSR brands in the world with strong future upside supported by strong market fundamentals, surrounding developments, and below-market rents.
Investment highlights
WITHIN GROCERY-ANCHORED SHOPPING CENTER
- The asset is located within Dunwoody Place anchored by a Publix grocery store
- Dunwoody Place attracts more than 2 million annual visits and features several global brands including McDonald’s and Starbucks
- Positioned along Roswell Rd with clear visibility to more than 30,000 VPD
PREMIER NORTHERN ATLANTA SUBURB
- Situated 15 miles north of downtown Atlanta, Dunwoody benefits from a quick commute to major employment hubs including The Perimeter, Bucktown, Midtown and Alpharetta via nearby interstate & MARTA rail access
- Average household incomes within the 3-mile radius surrounding the Property exceed $200,000, making it one of the most affluent pockets within metro Atlanta
- Less than 10-minutes from The Perimeter, a regional hub with billions of dollars in recent development projects and major employment corridor anchored by Insight Global’s headquarters as well as T-Mobile’s corporate headquarters
- Over 3 million square feet of space are currently under development within The Perimeter including High Street, a $2 billion mixed-use corridor set to be completed by 2030
- North Point Mall, less than 5-miles away in neighboring Alpharetta, is slated for a massive redevelopment that will transform the mall into a mixed-use hub featuring office parks, retail centers, apartment communities, and a 20,000-seat stadium to accommodate a future NHL expansion team
FAVORABLE LEASE ECONOMICS & INDUSTRY LEADING TENANCY
- Chipotle is subject to an absolute NNN lease with 7-years remaining, multiple renewal options, a 10% rent bump in 2028, and a corporate guarantee with zero landlord responsibilities
- At $49/SF, the Tenant’s annual rent is well-below market in comparison to other Chipotle locations
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