CHIPOTLE
Strategically located just off Willamette Street, with a traffic count of 12,010 vehicles per day (VPD), this property is less than two miles from the University of Oregon.
Recently renovated, it features a brand-new 15-year corporate net lease initiated in June 2024, with built-in 10% rent increases every five years.
INVESTMENT HIGHLIGHTS
LOCATED BY WOODFIELD STATION
This property is in an excellent location, directly in front of Woodfield Station in Eugene, OR—a bustling 200,000 sq/ft shopping center that serves as a key retail destination. Anchored by a major grocery store and featuring a diverse mix of shops and services, Woodfield Station attracts consistent foot traffic and provides unparalleled convenience for businesses and customers alike.
BRAND NEW 15 YEAR CORPORATE BACKED TRIPLE NET
LEASE
This property represents a prime investment opportunity with a brand-new 15-year corporate-backed triple net (NNN) lease that began in June 2024.
The long-term lease structure ensures stable and predictable income, while the 10% rent increases every five years provide built-in growth and hedge against inflation. With the tenant responsible for property expenses, this lowmaintenance investment offers both security and strong financial returns.
PRIME LOCATION NEAR UNIVERSITY AND DOWNTOWN
This property boasts an outstanding location, just 6 minutes from the University of Oregon and 7 minutes from Downtown Eugene, providing easy access to two vibrant centers of activity. Positioned on the highly trafficked Willamette Street, it offers excellent visibility and consistent traffic, making it an ideal spot for businesses seeking convenience and exposure.
DEMOGRAPHICS
Real Estate Taxes
Tenant agrees to pay the property taxes and assessments levied against the Tax Parcel (“Taxes”) for any year during the period between the Rent Commencement Date and the expiration of the Term of this Lease (the “Payment Period”).
Estimated Taxes - $ 1,329.17 $5.50 /square foot/year
Insurance
Tenant shall at all times during the Term hereof and at its own cost and expense procure and continue in force a policy of commercial general liability insurance (also known as broad form comprehensive general liability insurance including liquor liability, if applicable), insuring against liability for bodily injury, property damage and personal injury arising out of the use, operation or occupancy of the Premises in an amount of not less than Three Million Dollars ($3,000,000.00), combined single limit.
Tenant shall procure and maintain at all times during the Term of this Lease at its sole cost and expense, “Special Form” property insurance coverage, with standard exceptions, covering its fixtures, equipment and personal property located on the Premises, together with insurance against vandalism and malicious mischief.
Estimated Insurance - $120.83 $0.50 /square foot/year
Utilities
Tenant shall pay for all separately metered water, gas, heat, electricity, sewer charges, telephone, and any other utility or service charge related to its occupancy of the Premises.
Tenant R&M
Tenant shall have the responsibility to maintain the Premises in good repair at all times during the term of this Lease. As well as keep property in code compliance.
PROPERTY
2840 Willamette St. Eugene, OR 97405
Tenant
Chipotle Mexican Grill, Inc., a Delaware corporation
Lease
June 2024 - June, 2039
Exclusive Use For
A “Chipotle” restaurant with, at Tenant’s option, a drivethrough, serving specialty burritos and tacos, and other items generally served in a “Chipotle” restaurant including, at Tenant’s option, alcoholic beverages, and for any other lawful purpose, not prohibited by existing leases.
Estoppel Certificate
Tenant shall, within fifteen (15) business days after Tenant’s receipt of Landlord’s written request. Landlord shall, within fifteen (15) business days after Landlord’s receipt of Tenant’s written request. Such Estoppel Certificates shall be for the purpose of facilitating either party’s financing, refinancing or sale activities only, and shall not affect or prejudice any rights or remedies of either party against the other.
$165,300 CURRENT ANNUAL RENT
