CrownPoint Partners brokered the sale of a new=construction, single-tenant net-leased property occupied by a Chipotle Mexican Grill Drive-Thru in Toledo, Ohio, for $2.2 million.
Julius Swolsky and Shannon Bona, Managing Partners and Co-Founders of CrownPoint Partners, represented the seller, DWJS LLC, an Ohio-based developer and repeat client, in association with Joe Swolsky, Principal of Prime Retail Advisors in Toledo. The buyer was a private investor from the Mid-Atlantic region.
According to Bona, the property garnered nearly a dozen qualified offers, ultimately leading to a swift, 36-day closing with an all-cash buyer.
The property, located at 3360 Glendale Avenue, features a 2,325-square-foot building with a “Chipotlane” drive-thru on a 0.68-acre site. The asset is secured by a long-term 15-year triple-net lease featuring 10% rental increases every five years, along with four additional five-year renewal options. The lease is corporately guaranteed by Chipotle Mexican Grill (NYSE: CMG). Chipotle, a publicly traded fast-casual chain known for its fresh, Mexican-inspired fare and commitment to sustainably sourced ingredients, had 3,781 company-owned restaurants in the U.S. as of the end of Q1 2025.
This sale marks the sixth Chipotle transaction completed by Swolsky and Bona within the last six months, indicating a strong market for single-tenant properties leased to the popular restaurant chain.
The Toledo Chipotle location benefits from its position as an outparcel to the Southland Shopping Plaza, sharing access and a parking lot with Glendale Apartments, a 55-unit community. The shopping center is home to national retailers such as Planet Fitness, Family Dollar, McDonald’s, Arby’s, Mod Wash, Firestone, Fifth Third Bank, Citi Trends, and Merchant Bank.
The property sits directly behind the University of Toledo Health Science Campus, the University of Toledo Medical Center and Rehabilitation Hospital of Northwest Ohio, providing a steady consumer base. Daily traffic at the intersection of Glendale Avenue and Byrne Road averages 39,500 vehicles, and nearly 186,000 residents within a five‑mile radius contribute approximately $2.1 billion in consumer spending.
