LEASE SUMMARY
LEASE GUARANTOR: Chipotle Corporate
PARENT COMPANY: Chipotle Mexican Grill, Inc.
NUMBER OF LOCATIONS: 3,494 +/HEADQUARTERS: Newport Beach, CA
REVENUE 2023: $9.9 Billion
WEBSITE: www.Chipotle.com
PROPERTY ADDRESS: 597 SW 1st Avenue, Canby, Oregon 97013
GUARANTOR: Chipotle Corporate
OWNERSHIP TYPE: Fee Simple
LEASE TERM: 15-Years
EXTENDED TERMS: 4, 5-year Options
LEASE TYPE: NNN
LANDLORD RESPONSIBLE: Roof and Structure
*20-Year Roof Warranty in Place
MANAGEMENT FEE: $250.00 Per Month
Founded in 1993 out of Denver, CO, Chipotle has become one of the fastest growing fast-casual restaurants globally, with more than 2,700 restaurants and over 88,000 employees across all locations.
Chipotle takes pride in how their food is prepared and the partnerships with farms from where the food is sourced, focusing on using only high-quality ingredients and serving their customers a full-service restaurant experience, but with the convenience of a fast-food style experience. Chipotle’s focus has always been on using higher-quality ingredients and cooking techniques to make great food accessible to all people at reasonable prices.
ADDRESS: 597 SW 1st Avenue, Canby, OR 97013 TENANT: Chipotle
BUILT: 2024
COMMENCEMENT: Dec. 1st, 2024
BUILDING SIZE: +/- 2,725 SF
Property Features Chipotle’s Mobile Pick-up Window, “Chipotlane”
15-year Initial Term
NNN Leased Investment Newly Developed
More Chipotle customers are ordering in-store, while the chain keeps investing in digital and drive-thru
10/27/2022
After years of turning toward mobile orders and delivery, Chipotle customers are returning to stores to order in-person. In-store sales were up 22% in the third quarter of 2022 over the same period in the previous year, while digital sales were down 6% to make up 37% of all sales.
The resurgence of in-store sales is a break from what had been happening at Chipotle since 2020. Digital sales grew throughout the pandemic — supercharged by the chain’s continued investment in mobile. By the middle of 2021, they made up nearly half of all orders. At the time, Insider called it a change to the business model that made Chipotle popular in the first place.
source: https://www.businessinsider.com/chipotle-customers-are-returning-torestaurants-over-mobile-ordering-2022-10
TAXES
TENANT RESPONSIBLE
TENANT RESPONSIBLE
TENANT RESPONSIBLE
TENANT RESPONSIBLE
Inside the Rise of the Game-Changing ‘Chipotlane’
10/04/2021
It wasn’t that long ago fast casual and drive-thru were the industry’s oil and water. Pickup windows were seen as the hallmark of quick service’s biggest players—not its upstarts forging a fresh path.
And nobody drew the line in the asphalt sharper than Chipotle.
While the category pioneer spawned a fast-casual movement that would fill with copycats in the coming years, Chipotle’s ethos, sourcing, and operational style proved equal parts innovative and stubborn.
Put simply, the notion of Chipotle opening a drive-thru was unlikely on its best day.
However, former Taco Bell leader Brian Niccol’s arrival as CEO in the winter of 2018 turned the first blank page in Chipotle’s modern playbook. From digital make-lines to pickup shelves to delivery, loyalty, quesadillas, TikTok, esports, and more, Niccol targeted the one area he believed the brand was losing ground quickest: accessibility.
source: https://www.qsrmagazine.com/fast-casual/inside-rise-game-changing-chipotlane
SITE PLAN & PROPERTY PHOTOS
SURROUNDING AREA
SUBJECT PROPERTY
canby alliance church
Canby Swim Center
Subject Property SW1stAvenue
Canby High School
0.2 MI | 2 MIN DRIVE
CANBY OR
Canby, Oregon is a charming city located in Clackamas County, about 25 miles south of Portland. Nestled in the Willamette Valley, it is known for its picturesque surroundings, rich agricultural heritage, and small-town charm. The city has a population of approximately 20,000 residents, offering a friendly and close-knit community atmosphere.
Canby is famous for its vibrant local culture, highlighted by events like the Clackamas County Fair and Canby Rodeo, which draw visitors from across the region. The historic downtown area features boutique shops, locally-owned restaurants, and cultural attractions. The nearby Molalla and Willamette Rivers provide opportunities for outdoor activities like fishing, kayaking, and hiking.
The city’s agricultural roots are evident in its thriving farms and nurseries, producing everything from berries to flowers. The Canby Farmers Market and seasonal U-pick farms are popular destinations for locals and visitors alike.
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BUSINESS INCOME
