Chili's - Pittsfield, MA

JLL is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant Chili’s Grill & Bar in Pittsfield, MA. Chili’s Grill & Bar recently constructed the building in 2018 after signing a ten (10) year Lease. The NNN Ground Lease has 8.5 years remaining, with four (4), five (5) year options, which average twelve percent (12%) rental increases in the beginning of each option. 

Chili’s Grill & Bar has excellent visibility and accessibility, as it is a part of the market-dominant Berkshire Crossing located off Dalton Ave (MA-8); home to over 17,000 vehicles per day. Berkshire Crossing includes a strong lineup of national retailers including The Home Depot, Walmart, Starbucks, Michaels, Market 32 by Price Chopper, Staples, Verizon, Applebee’s, Taco Bell, Five Below, Mattress Firm, and Ulta Beauty among others. The Home Depot is the only big box home improvement store within 40 miles and the next closest Walmart is a 30-minute drive, which helps drive consumers to the center and further establishes it as a sought-after retail location. 

Chili's Grill & Bar is an American casual dining restaurant chain. The company was founded forty-five years ago by Larry Lavine in Texas in 1975. Lavine's concept was to create an informal, full-service dining restaurant with a menu featuring different types of hamburgers offered at an affordable price. Chili’s Grill & Bar is owned and operated by the publicly traded Brinker International, one of the world’s leading casual dining restaurant companies with 1,600 locations and a $1.7 billion market value. The entity on the Lease, Pepper Dining, Inc. is a subsidiary of Brinker International.  

• Chili’s Grill & Bar has excellent visibility and accessibility, as it is a part of the market-dominant Berkshire Crossing, located off Dalton Ave (MA-8); home to over 17,000 vehicles per day. 
• Berkshire Crossing includes a strong lineup of national retailers including The Home Depot, Walmart, Starbucks, Michaels, Market 32 by Price Chopper, Staples, Verizon, Applebee’s, Taco Bell, Five Below, Mattress Firm, and Ulta Beauty among others.
• Chili’s Grill & Bar is owned and operated by the publicly traded Brinker International, one of the world’s leading casual dining restaurant companies with 1,600 locations and a $1.7 billion market value.  
• The NNN Ground Lease is inclusive of attractive, 10% rental increases every five (5) years throughout the term. These rental increases will rise to an average of 12% throughout the four (4), five (5) year options that remain. 
• Pittsfield, MA is the largest city in the Berkshires, a popular vacation destination in western Massachusetts, and benefits from high seasonal tourism which draws over 2.6 million tourists a year.