Chipotle E/NEC 99th Ave & Indian School Rd 2,325 SF Retail Building Phoenix, AZ 85037 $4,112,000 ($1,768.60/SF) 4.50% Cap Rate

Cushman & Wakefield is pleased to present the opportunity to acquire a net leased investment tenanted by Chipotle Mexican Grill, one of the most recognized and successful fast-casual restaurant brands in the United States. The property is secured by a corporate-guaranteed lease, offering investors a stable income stream backed by Chipotle Mexican Grill, Inc. Constructed in 2026, the asset features Chipotle’s newest prototype design with a 15-year primary lease term and attractive 10% rental increases every five years, providing both durable cash flow and meaningful long-term rental growth.
Founded in 1993 in Denver, Colorado, Chipotle has grown into a leading publicly traded restaurant company and a pioneer of the fast-casual dining segment. Today, the company operates more than 4,000 locations globally and employs approximately 130,000 people. Chipotle generated approximately $11.9 billion in revenue in 2025 and maintains a market capitalization of roughly $48.54 billion. Publicly traded on the NYSE under the ticker symbol “CMG,” the company remains one of the largest and most prominent restaurant platforms in the country, supported by continued store expansion and strong consumer demand.
The subject property is strategically located in Phoenix, Arizona, within the rapidly growing West Valley and less than one-half mile from Loop 101, one of the region’s primary freeway corridors carrying approximately 177,921 vehicles per day. The property benefits from exceptional demographic fundamentals, serving a dense trade area with more than 353,000 residents within a five-mile radius and average household incomes of approximately $106,201 within three miles. The location is positioned less than ten minutes from several of the Valley’s premier regional destinations, including State Farm Stadium, Desert Diamond Arena, and the Westgate Entertainment District, which collectively attract millions of visitors annually. Additionally, the site is directly across from approximately 3,298 residential units, providing a built-in consumer base and supporting sustained traffic throughout the day.
This offering represents an opportunity to acquire a newly constructed Chipotle investment with corporate credit backing, long-term lease security, contractual rent growth, and exceptional real estate fundamentals in one of the most dynamic and rapidly expanding submarkets in the Phoenix metropolitan area. The combination of strong demographics, proximity to major employment and entertainment drivers, and Chipotle’s continued national growth trajectory positions this asset as a compelling long-term net lease investment opportunity.