5425 MCPHERSON BLVD Fort Worth TX 76123-6021

The subject property is a 2,324 square foot Chipotle Ground Lease located in Fort Worth, Texas. Chipotle signed a 20-year ground lease which commenced in July of 2020, leaving approximately 18 years remaining on the initial lease term. Chipotle has four 5-year renewal options thereafter. The lease includes ten percent rent increases every 5 years with the next increase slated to occur in July of 2025. The lease is absolute net providing for zero landlord responsibilities.

Chipotle, which is publicly traded on the NYSE under the ticker symbol “CMG”, reported annual revenues of over $7.54 billion in 2021 and has a market cap over $34 billion.

Located at the intersection of McPherson Boulevard and Summer Creek Drive, the subject property is positioned as an outparcel to The Shops at Chisolm Trail Ranch, a 250,000 square foot power center anchored by Ross, Old Navy, Marshalls, Tuesday Morning, Studio Movie Grill, and more. The property is part of the larger Chisholm Trail Ranch development, a 600-acre master planned community featuring residential, commercial, and retail components. The property is sandwiched between Chisholm Trail Ranch “Bluestem” (209 residential lots currently under development) and Chisholm Trail West (1,620 planned residential units under development). Located in one of the highest residential growth markets within the Dallas-Fort Worth MSA, the immediate area has over 8,500 single family lots and 3,400 multi-family units currently in progress which are projected to add over 32,800 residents.

The property is positioned approximately two miles north of Tarleton State University Campus, a Texas A&M University System. The $41 million first phase of the campus, which opened in 2019, is projected to serve 5,000 students by 2025. With $63 million of additional funding approved for phase 2, the campus is anticipated to serve 9,000 students by 2030.

Approximately 12 miles south of downtown Fort Worth, the surrounding community is densely populated with over 59,800 residents within a three-mile radius and over 166,000 residents within a five-mile radius. This high growth area is anticipated to increase its population by approximately ten percent over the next four years. This affluent community boasts an average household income of over $130,000.

Lease / Tenant

• Corporate Backed Long-Term Lease – Chipotle signed a 20-year ground lease which commenced in 2020, leaving approximately 18 years remaining on the initial lease term

• Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses

• Attractive 10% Rent Increases Every 5 Years – Next rent increase is scheduled for July 1, 2025

• Chipotle (NYSE: “CMG”) has over $7.54 billion in annual revenue and market cap of $34.4 billion

Real Estate / Area Strengths

• Outparcel to The Shops at Chisholm Trail Ranch – 250,000 sf power center anchored by Ross, Old Navy, Marshalls, Tuesday Morning, Studio Movie Grill and more

• Adjacent to Major Residential Developments - Property is sandwiched between Chisholm Trail West (1,620 planned residential units under development) and Chisholm Trail Ranch “Bluestem” (209 residential lots currently under development)

• One of the Highest Residential Growth Markets in DFW – Over 8,500 single-family lots and 3,400 multi-family units currently in progress in the immediate area

• 2 Miles North of Tarleton State University Campus – Newly constructed Texas A&M University system facility anticipated to serve 9,000 students by 2030

• Densely Populated Area 12 Miles South of Downtown Fort Worth – Over 59,800 residents within a 3-Mile Radius and over 166,000 residents within a 5-mile radius

• Extremely Affluent Area – Average Household Income Exceeds $130,000 within a 1-mile radius

The subject property is a 2,324 square foot Chipotle Ground Lease located in Fort Worth, Texas. Chipotle signed a 20-year ground lease which commenced in July of 2020, leaving approximately 18 years remaining on the initial lease term. Chipotle has four 5-year renewal options thereafter. The lease includes ten percent rent increases every 5 years with the next increase slated to occur in July of 2025. The lease is absolute net providing for zero landlord responsibilities.

Chipotle, which is publicly traded on the NYSE under the ticker symbol “CMG”, reported annual revenues of over $7.54 billion in 2021 and has a market cap over $34 billion.

Located at the intersection of McPherson Boulevard and Summer Creek Drive, the subject property is positioned as an outparcel to The Shops at Chisolm Trail Ranch, a 250,000 square foot power center anchored by Ross, Old Navy, Marshalls, Tuesday Morning, Studio Movie Grill, and more. The property is part of the larger Chisholm Trail Ranch development, a 600-acre master planned community featuring residential, commercial, and retail components. The property is sandwiched between Chisholm Trail Ranch “Bluestem” (209 residential lots currently under development) and Chisholm Trail West (1,620 planned residential units under development). Located in one of the highest residential growth markets within the Dallas-Fort Worth MSA, the immediate area has over 8,500 single family lots and 3,400 multi-family units currently in progress which are projected to add over 32,800 residents.

The property is positioned approximately two miles north of Tarleton State University Campus, a Texas A&M University System. The $41 million first phase of the campus, which opened in 2019, is projected to serve 5,000 students by 2025. With $63 million of additional funding approved for phase 2, the campus is anticipated to serve 9,000 students by 2030.

Approximately 12 miles south of downtown Fort Worth, the surrounding community is densely populated with over 59,800 residents within a three-mile radius and over 166,000 residents within a five-mile radius. This high growth area is anticipated to increase its population by approximately ten percent over the next four years. This affluent community boasts an average household income of over $130,000.

Lease / Tenant

• Corporate Backed Long-Term Lease – Chipotle signed a 20-year ground lease which commenced in 2020, leaving approximately 18 years remaining on the initial lease term

• Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses

• Attractive 10% Rent Increases Every 5 Years – Next rent increase is scheduled for July 1, 2025

• Chipotle (NYSE: “CMG”) has over $7.54 billion in annual revenue and market cap of $34.4 billion

Real Estate / Area Strengths

• Outparcel to The Shops at Chisholm Trail Ranch – 250,000 sf power center anchored by Ross, Old Navy, Marshalls, Tuesday Morning, Studio Movie Grill and more

• Adjacent to Major Residential Developments - Property is sandwiched between Chisholm Trail West (1,620 planned residential units under development) and Chisholm Trail Ranch “Bluestem” (209 residential lots currently under development)

• One of the Highest Residential Growth Markets in DFW – Over 8,500 single-family lots and 3,400 multi-family units currently in progress in the immediate area

• 2 Miles North of Tarleton State University Campus – Newly constructed Texas A&M University system facility anticipated to serve 9,000 students by 2030

• Densely Populated Area 12 Miles South of Downtown Fort Worth – Over 59,800 residents within a 3-Mile Radius and over 166,000 residents within a 5-mile radius

• Extremely Affluent Area – Average Household Income Exceeds $130,000 within a 1-mile radius