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.
MAJ COMMERCIAL REAL ESTATE
MAJ Commercial Real Estate is pleased to present the opportunity to acquire a Single Tenant Net Leased Investment located in Canby, OR. The property is leased to Chipotle on a brand new 15-year term that commenced on December 1, 2024. This location consists of Chipotle’s pickup window “Chipotlane” for customers with meals preordered in the Chipotle mobileapp. The property is ideally located on SW 1st Ave (Pacific Hwy E), that encompasses approximately 20,200 vehicles per day. Chipotle is also located just 0.2 miles away from Canby High School and 0.7 miles away from the Clackamas County Fairgrounds and Event Center. Some of the surrounding business include Starbucks, Fred Meyer, Safeway, US Bank and more.
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 fullservice restaurant experience, but with the convenience of a fastfood 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
$184,500.00
$3,690,000
SITE PLAN & PROPERTY PHOTOS
SURROUNDING AREA
Wilsonville
Aurora
Barlow
Macksburg
Lone Elder
O’Neil Corners
New Era
Hillendale
Canby High School is a public high school in Canby, Oregon, serving students in grades 9–12. Known for its strong academics, it offers Advanced Placement (AP) courses, Career and Technical Education (CTE) programs, and dualcredit opportunities with local colleges. The school promotes well-rounded development through athletics, arts, and numerous clubs, fostering community engagement and school spirit. Its mascot is the Cougar, and its colors are blue and gold. Canby High School emphasizes preparing students for success in college, careers, and life.
Canby High is known for fostering strong ties with the local community. Events like sporting matches, plays, and fundraisers are well-attended by Canby residents, showcasing the school’s central role in the town’s cultural life.
CANBY HIGH SCHOOL SW1st
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.
1 Mile
3 Miles
5 Miles
BUSINESS INCOME
