Investment Highlights
Net Lease Provides a Passive Investment and Income
Brand New Construction with Corporate Tenant
Strategic Location
Durable Cash Flow and Fixed Rent Increases
E-Commerce and Recession-Resistant Tenant
Great Access and Visibility
Executive Summary
CIRE Partners is pleased to exclusively present for sale a brand new construction single-tenant net leased investment opportunity located at 920 NE Wood Village Boulevard in Wood Village, Oregon, which is a city in Multnomah County and within the greater Portland MSA. The subject property, occupied by Chipotle, is comprised of an approximately 2,325 square foot quick-service restaurant building featuring their signature ?Chipotlane? drive-thru, an indoor dining area, outdoor patio seating, and is situated on an approximately 1.41 acre parcel of land.This Chipotle property is store #36-4553 of approximately 3,400 in the entire Chipotle system. Chipotle operates under a 15 year corporate guaranteed lease, which includes fixed 7.5% rent increases every 5 years throughout the primary lease term and renewal option periods, providing for healthy yield growth and a hedge against inflation. The tenant has three (3) - five (5) year renewal options to extend the lease.The subject property is strategically located as an outparcel/pad site to the Wood Village Town Center, which is an approximately 139,831 square foot institutional quality, grocery shadow-anchored, multi-tenant retail property with a strong tenant mix. The subject property benefits from prominent visibility, excellent ingress and egress, strong traffic volumes, a local trade area that provides demand and synergy, and limited fast food/quick-service restaurant competition.The property is located in Multnomah County and approximately 15 miles east of Portland. Multnomah County is home to the Port of Portland and the most populous county in Oregon. Multnomah County boasts a diverse economy with strong sectors in technology, manufacturing, healthcare, and retail.*Broker of Record: Congress Realty Inc., Lic.:200810066 (OR) & 200804165 (OR)
