New Chipotle | Adjacent to McD's Development 3852 Rancho Vista Blvd 2,325 SF Retail Building Palmdale, CA 93551 $4,588,000 ($1,973.33/SF) 4.25% Cap Rate

SRS National Net Lease Group is pleased to present the opportunity to acquire the leased fee interest (land ownership) in a brand-new, Absolute NNN Ground Lease investment, guaranteed by Chipotle Mexican Grill, Inc. (NYSE: CMG). This newly constructed Chipotle is strategically located at the signalized intersection of Rancho Vista Boulevard and Town Center Drive in Palmdale, California. The tenant will execute a new 15-year ground lease with four (4) five-year renewal options, the lease features 10% rental increases every five years throughout the initial term and during each option period, providing investors with consistent NOI growth and a hedge against inflation. As a true Absolute NNN lease, the tenant is responsible for all taxes, insurance, CAM, and maintenance, creating a passive, management-free opportunity ideal for investors seeking long-term income, including those located out of state.