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JLL is pleased to offer for sale the fee simple interest in a multi-tenant, corporate leased, grocery outlot in Woodstock, IL (the “Property” or “Asset”). The Property is double-net leased to Chipotle Mexican Grill, Inc. (“Chipotle”) and T-Mobile Central, LLC (d.b.a. “T-Mobile”). The newly constructed asset features over 12 years of weighted average remaining lease term with 10% increases every five years, allowing investors the opportunity to acquire a long-term investment with steadily increasing cash flows.
- The Asset features a “Chipotlane” drive-thru lane/window that allows customers to retrieve their orders without ever leaving their car. Additionally, patio dining space in the front of the store facilitates socially distanced dining.
- Situated along Route 47 (VPD: >20,000), Woodstock’s main retail corridor, the Property is extremely visible and accessible to travelers heading from Chicago to Wisconsin weekend destinations like Lake Geneva.
- The Property is an outparcel to Woodstock Center, a 122,000 SF retail center anchored by Jewel-Osco, which attracts more than 99,000 customers each year.
- Chipotle, a fast-casual restaurant chain with more than 2,600 locations worldwide, executed a rare 15-year lease, evidencing its long-term commitment to the site.
- T-Mobile (S&P: BB) is now America’s second-largest wireless provider, recently surpassing AT&T Inc. following the Sprint merger.