TOLEDO, OHIO — CrownPoint Partners has brokered the $2.2 million sale of a newly constructed, single-tenant retail property occupied by Chipotle Mexican Grill in Toledo. The property at 3360 Glendale Ave. features a 2,325-square-foot building with a “Chipotlane” drive-thru. Chipotle has a 15-year triple-net lease with 10 percent rental increases every five years, along with four additional five-year renewal options. The lease is corporately guaranteed by Chipotle Mexican Grill, which operates 3,781 restaurants in the U.S. Julius Swolsky and Shannon Bona of CrownPoint represented the seller, DWJS LLC, an Ohio-based developer, in association with Joe Swolsky of Prime Retail Advisors. The all-cash buyer was a private investor from the Mid-Atlantic region.
The property features a newly constructed building totaling 2,325 square feet. This is a representative photo for a similarly looking property.
CrownPoint Partners Brokers $2.2M Sale of Chipotle-Occupied Retail Property in Toledo, Ohio
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