The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased Chipotle property located at 2302 Thornton Lansing Road in Lansing, Illinois for $2,333,000.
The newly constructed Chipotle has a 15-year NNN lease term with 10% rental escalations every 5 years and four 5-year renewal options.
The property is strategically positioned at the signalized intersection of Torrence Ave (29,400 VPD) & Thornton Lansing Rd (11,100 VPD, directly across the street from Starbucks. The property benefits from its location less than one mile from Interstate 94 (150,700 VPD) and 25 miles from downtown Chicago.
Retailers nearby include Walmart, Walgreens, Dollar Tree, O’Reilly Auto Parts, AutoZone, Jiffy Lube, McDonald’s, Dunkin’, Dairy Queen, Popeyes, Burger King, Subway, Wingstop, T-Mobile, AT&T, Planet Fitness, and Citgo.
The surrounding area features strong demographics, with a population of 225,463 within a 5-mile radius and an average household income of $82,608 within 5 miles.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer and seller in the transaction. The purchaser is a 1031 exchange buyer and the seller is a Midwest based developer.
Chipotle Mexican Grill, Inc., often referred to simply as Chipotle, is a prominent American chain of fast-casual restaurants specializing in tacos and Mission-style burritos. Founded in 1993 by Steve Ells in Denver, Colorado, the company has grown significantly, operating more than 3,375 locations worldwide as of 2024. Chipotle is renowned for its commitment to using high-quality ingredients and promoting food sustainability, evidenced by its “Food with Integrity” philosophy, which emphasizes the use of organic produce, naturally raised meat, and dairy from pasture-raised cows. Headquartered in Newport Beach, California, Chipotle has become a leader in the fast-casual dining sector, distinguished by its customizable menu and efficient service model.
“Chipotle assets with lengthy lease terms continue to garner significant investor interest,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This property benefits from attractive demographics and its location within the nation’s 3rd most populous metropolitan area.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2023, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html