Chipotle | Mod Pizza Bremerton WA

Blake D. Federinko

360.823.5111

Blake@MAJCRE.com

Kristin M. Ashenfelter

360.823.5118

Kristin@MAJCRE.com

Michael A. Jenkins

360.823.5102

Mikej@MAJDevelopment.com

MAJ COMMERCIAL REAL ESTATE

300 W 15th Street, Ste 200 Vancouver WA

Office: 360.699.4494

www.MAJCRE.com

Confidentiality & Disclaimer

This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the MAJ Commercial Real Estate affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.

Chipotle

TENANT PROFILE & LEASE SUMMARY

MOD Pizza

SCHEDULE TENANT PROFILE & LEASE SUMMARY

Operating Statement

Bremerton Station Summary

Site Plan & Monument Signs

Demographics & Traffic Counts

Future Roundabout Development

Chipotle

NNN LEASED INVESTMENT

PROPERTY ADDRESS:

4350 Wheaton Way

Bremerton, WA

Building Size: 2,325 SF +/-

Lot Size “Pad A”: 24,861 SF +/-

Lease Guarantor: Chipotle Corporate

Lease Term: 15-Year Initial Term

10% Increases Every 5 Years

Lease Options: Four, 5-Year Options

Rent Commencement: Est January 2024

Lease Type: Triple Net

Chipotle Mexican Grill, Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

Locations: 3,129+

International: 53+

Employees: 105,000+

2022 Revenue: $8.6B

MOD Pizza

NNN LEASED INVESTMENT

PROPERTY ADDRESS:

4340 Wheaton Way

Bremerton, WA

Building Size: 2,700 SF +/-

Lot Size “Pad A”: 24,861 SF +/-

Lease Guarantor: MOD Pizza Corporate

Lease Term: 10-Year Initial Term

10% Increases Every 5 Years

Lease Options: Four, 5-Year Options

Rent Commencement: Est Spring 2024

Lease Type: Triple Net

MOD Pizza is the original superfast pizza experience—a pioneering fast-casual concept that puts the customer in the driver’s seat. Artisan-style pizzas and salads are individually sized, made on emand and are ready in just minutes. Choose from over 30 toppings—the price stays the same no matter how many are selected. MOD was founded in 2008 by husband and wife, Scott, and Ally Svenson, in their hometown of Seattle. MOD has more than 500 locations as of 2021 in the United States, Canada, and the United Kingdom.

Number of Locations: 500+ (2021)

Headquarters: Bellevue, WA

mod pizza Rent Schedule

Bremerton Station, a 187,467 square foot retail center, is located just south of the subject property. Bremerton Station is co-anchored by Wilco and Planet Fitness. Located at the high-traffic signalized intersection of Wheaton Way and Riddell Road, accessible by more than 80,774 vehicles per day.

MAJ Development Corporation is bringing new life to Bremerton Station with a brand-new Chipotle, MOD Pizza, and Wendy’s restaurant along Wheaton Way. Construction is also underway for Floor & Decor, and Grocery Outlet in the existing building. Parking stalls, landscaping, and lot lighting are being enhanced for a modern look, better traffic flow, and to meet current safety standards.

New Tenants Coming Soon to Bremerton Station

Site Plan & Monument Signs

This Chipotle location features the “Chipotlane” pickup window. Customers can place an order in the Chipotle mobile app, and schedule for pickup in the “Chipotlane”.

Two, 15’ tall monument signs with clear visbility from both Wheaton Way and Riddell Road.

Demographics

Population

Consumer Spending

Household Income

Traffic Counts

Traffic Count Report

Re-envisioning the SR-303 Corridor

The City of Bremerton and WSDOT have completed a comprehensive study of the SR 303 (Warren/Wheaton) corridor. The study, using the practical solutions approach, developed a plan for the corridor from Burwell Street to Fairgrounds, with particular focus on the segments of the corridor within city limits. The purpose of the study was to examine the community’s needs for a modernized roadway resulting in a capital improvement plan that includes safe, reliable, and cost-effective transportation improvements that support livability, investment, and economic vitality for people and businesses.

The study began in 2019 and was completed in early 2021.

View the full project details online

The City of Bremerton has planned a traffic circle at Riddell Road & Wheaton Way.

major employers of bremerton

Bremerton, Washington has a strong military presence. The economy is centered on the military. The Naval Base Kitsap and the Puget Sound Naval Shipyard are the two largest employers in the Bremerton region. They both employ a large number of civilians. A variety of U.S. Vessels are built and repaired in the area. The majority of the workforce is employed by the U.S. government. Tourism, wood products and logging also add to the economy.

The top fields of employment in Bremerton, Washington are government, healthcare, transportation equipment, accommodation and food services, educational services, and professional, scientific and technical services.

Major employers in the Bremerton region:

Naval Base Kitsap

Puget Sound Naval Shipyard

Naval Undersea Warfare Center

Harrison Medical Center

Naval Hospital Bremerton

Central Kitsap School District

Kitsap County

South Kitsap School District

Olympic College

North Kitsap School District

Port Madison

IAP World Services

City of Bremerton

TeleTech

Safeway, Inc

Albertsons

Walmart

Ostrom Management

AMSEC LLC

Lockheed Martin Bangor-Space Systems

The Doctors Clinic

Bremerton companies may collaborate with organizations including:

Bremerton Chamber of Commerce

Kitsap Economic Development Alliance

Washington Economic Development Association

Washington State Department of Community, Trade & Economic Development

Washington Manufacturing Services

Small Business Administration - Washington