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760 Sawdust Road, Spring, TX

Sales Price: $4,000,000

Tenant: Chipotle

Lease Type: NNN

Cap Rate: 4.13%

Selling Agent: Steve "Bogie" Bogoyevac

NEW CONSTRUCTION CHIPOTLE IN TEXAS ACQUIRED FOR $4MMM

January 12, 2021

Just closed! We assisted our client with the 1031 exchange upleg acquisition of a brand new 2020 construction Chipotle with a drive thru in Spring, Texas (Houston metro). The property was identified as a suitable upleg for its desirable new NNN lease, strong corporate tenant, and great location with high traffic volume in a rapidly growing area of an income tax-free state. The new NNN lease has 15 years remaining, three five-year options, and 10 percent rent increases every five years. The upleg was acquired at a 4.13% cap rate for $4,000,000. For more information, please contact Steve “Bogie” Bogoyevac at Steve.Bogoyevac@MarcusMillichap.com.

Los Angels Real Estate Borkers - The Bogie Group
880 Apollo Street, Suite 101, El Segundo, CA 90245
requests@bigrea.com
(424) 301-3800
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