PHOENIX, Ariz. (November 30, 2023) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chipotle, a 2,400-square foot net-leased property located in Phoenix, Arizona. The asset sold for $3,010,753 ($1,254 PSF).
Mark Ruble and Chris Lind, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
Chipotle is located at 1838 W Baseline Road in Phoenix, Arizona. Newly built in 2023 with a “Chipotlane” drive-thru and a 15-year roof warranty, the subject property also has a new 15-year triple-net corporate lease with 10 percent rental increases every five years.