The Cooper Commercial Investment Group brokered the sale of the brand-new, high-profile, single-tenant Chipotle Mexican Grill in Piqua, Ohio, a suburb of Dayton.
The corporately backed, nationally recognized tenant is secured by a new 15-year lease featuring 10% rental increases in years 6 and 11. Constructed to Chipotle’s latest prototype design, the property includes their namesake drive-thru, Chipotlane, patio seating, highly visible pylon signage and is strategically positioned right off major interstate I-75 and among several complementary retailers and office users, further reinforcing strong daily traffic and the brand’s position as one of the most sought-after quick-service restaurant tenants in today’s market.
Dan Cooper of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the Seller, a long-time client with whom he has successfully completed multiple transactions. The property sold to an all-cash 1031 exchange buyer from California at a 5.50% CAP Rate, with the Buyer proceeding under a 21-day due diligence period followed by a quick closing, highlighting the strength of the asset and certainty of execution.
