TUCSON, ARIZONA (September 16, 2026) — A newly constructed Chipotle Mexican Grill at 7101 E. 22nd Street in Tucson sold for $4.42 million in an all-cash investment transaction.
Chipotle 22nd & Kolb, LLC, a San Diego-based investor, purchased the 2,328-square-foot restaurant from Tangerine Gateway, LLC, an affiliate of David Lee Real Estate. The sale closed September 10.
The restaurant occupies approximately 0.49 acres at the northeast corner of East 22nd Street and South Kolb Road. Chipotle opened at the location in May after Tangerine Gateway redeveloped the former Chuy’s Baja Broiler and Native Grill & Wings property.
Chipotle operates under a 15-year absolute triple-net lease that commenced May 12, 2026, and extends through May 2041. The lease provides annual rent of approximately $220,000, excluding billboard income. Based on the purchase price and reported rent, the sale reflects a capitalization rate of approximately 5 percent.
The property is positioned at a heavily traveled eastside intersection surrounded by an established residential population and a concentration of retail and restaurant uses.
Ryan Moroney, Tim Westfall, Jack McAndrew and Kyle Duffy with Echo West Capital Advisors marketed the property for the seller. No buyer broker was identified.
Cameron Lee, a member of Tangerine Gateway, LLC and broker with David Lee Real Estate, represented the selling entity. Lee can be reached at 520-954-8008. Moroney can be reached at 602-421-9100 and Westfall at 602-628-6298.
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