NAI Capital Completes Investment Sale of a Chipotle Mexican Grill Restaurant
Irvine, CA – Tuesday, October 11, 2016: NAI Capital has completed a $3.7 million investment sale of a new Chipotle Mexican Grill located on the North East corner of Harbor Blvd and McFadden Ave at 629 S Harbor Blvd, Santa Ana, Calif. The Chipotle is situated in a dense retail corridor across the street from a McDonald’s and a Walmart supercenter anchored shopping center. The property sits on a 22,615 square foot pad. The building is approximately 2,336 square feet and is 100% leased to Chipotle Mexican Grill, Inc. (NYSE: CMG) on a twenty 20 year ground lease.
NAI Capital Senior Vice Presidents Barry Blake and Steve Liu represented the buyer 99 Motel, LLC, as well as the seller, Santa Ana HM Property, LLC in the transaction.
Liu said, “The buyers were coming out of an exchange after I successfully sold their hotel in Orange County. Our client was ready to retire and their goal was to move into a less management intensive product type. We were able to trade them up to an absolute triple net investment which had no management responsibilities at all. Our client now enjoys an investment with 18 year remaining on the term and the security of a corporate guaranty from a $4 billion dollar company.”
“Investor demand is very strong for credit worthy, single-tenant triple net deals. This building fit well into that investment category,” Blake added.
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 375 offices and 6,700 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840.
To learn more, visit www.naicapital.com
About NAI Global
Founded in 1978, NAI Global is a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,700 professionals located throughout North America, Latin America, Europe and Asia Pacific. The firm manages over 380 million square feet of property on behalf of its clients, globally. The NAI Global Capital Markets Group serves the largest institutional owners of and investors in commercial real estate.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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