Brand-New Construction “Chipotlane” Property Opening Soon in Colorado Springs
Blue West Capital is pleased to exclusively offer for sale a single tenant brand-new construction Chipotle property located in Colorado Springs, CO. The property is in an affluent and rapidly expanding corridor and is positioned just east of the major signalized intersection of North Powers Blvd and Dublin Blvd (89,000 VPD). Colorado Springs was ranked the #1 “Most Desirable Place to Live in the U.S.” in 2022 by U.S. News.
The Chipotle lease is estimated to commence in August 2023. The property features a long-term 10-year net lease to Chipotle Mexican Grill, Inc. There are 10% rental increases every five years. Chipotle is the industry leader in the fast casual sector and is a publicly traded company (NYSE: CMG) with a $57B market capitalization.
This brand-new construction “Chipotlane” property has a drive-up window that can be converted to a traditional drive thru in the future. Store sales at locations with a “Chipotlane” average 15% higher than stores without a Chipotlane. In 2022, same-store sales increased by 8% and digital sales accounted for 39.4% of the total food and beverage revenue companywide.