Triple Net Property for sale in Milwaukee

1. NET LEASED INVESTMENT OFFERING
Chipotle (NYSE: CMG)
3232 South 27th Street
Milwaukee, WI 53215
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Aerial
5)
Site Plan
6)
Maps
7)
Tenant Profile
8)
Demographic Comparison Report
9)
Location Overview
10)
Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person
or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide
summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the
subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The
Boulder Group has not made any investigation, and makes no warranty or representation. The information contained
in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group
has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Chipotle property located in Milwaukee, Wisconsin.
Chipotle has successfully operated at this location since 2003 and recently extended their lease an additional ten years.
Chipotle is committed to the site as evidenced by their recent lease extension which expires July 2023 with 12.5% rental
escalations every five years. Chipotle is a publicly traded company on the New York Stock Exchange (CMG) with a market
capitalization in excess of $16 billion.
The Chipotle property is located along South 27th Street, a heavily trafficked north-south thoroughfare approximately five
miles southwest of downtown Milwaukee. South 27th Street experiences traffic counts in excess of 31,000 vehicles per day.
Additionally, the property benefits from its proximity to the signalized intersection of West Oklahoma Avenue and South 27th
Street, which experiences traffic counts in excess of 52,000 vehicles per day. Furthermore, Aurora St. Luke’s Medical Center,
the number one ranked hospital in Milwaukee, is located at the heavily trafficked intersection. Aurora St. Luke’s Medical
Center is a 710-bed facility with over 130,000 annual visitors (27,610 inpatient surgeries, 41,028 outpatient surgeries, &
61,734 emergency room visits).
The property is located within a densely populated area with over 400,000 people living within five miles. The Chipotle is
well positioned in a prime retail corridor across the street from a Walmart Supercenter and Walgreens, creating constant
traffic flow near the site. Other retailers in the immediate vicinity include Kohl’s, Pick ‘n Save, Chase Bank, PNC Bank, CVS,
Michael’s, Marshalls, and OfficeMax.
Chipotle recently opted to extend their original lease to ensure their presence at this location for ten additional years. The
newly extended lease expires on July 25, 2023 and features rare 12.5% rental escalations every five years throughout the
primary term and renewal option period. Chipotle is a publicly traded company (NYSE: CMG) with a market capitalization in
excess of $16 billion and has over 1,500 locations.
INVESTMENT HIGHLIGHTS
• Located in Milwaukee
• Chipotle recently extended their lease for ten additional years
• 12.5% rental escalation in July 2018 and in the renewal option
• Chipotle is publicly traded (NYSE: CMG) with a market capitalization in
excess of $16 billion
• Chipotle has successfully operated at this location for over 10 years
• Across the street from a Walmart Supercenter and Walgreens anchored
development
• Located in the immediate vicinity to Aurora St. Luke’s Medical Center, a 710-bed facility that is the number one ranked
hospital in the Milwaukee MSA
• Over 400,000 people living within five miles of the subject property
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$1,824,000
Cap Rate:
6.25%
Rent Schedule:
NOI
Escalation Date
$114,000
$128,250
$144,281
7/26/2018
2/26/2023 (Option 1)
Renewal Options:
One 5-Year
Lease Commencement Date:
July 26, 2013
Lease Expiration Date:
July 25, 2023
Tenant:
Chipotle (NYSE: CMG)
Year Renovated:
2003
Lease Type:
NN
Building Size:
2,295 SF
Land Size:
14,400 SF
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
N
W. OKLAHOMA AVENUE
21,600 VPD
SOUTH 27TH SREET
31,300 VPD
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
OUTDOOR
SEATING
S. 27TH STRE ET
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Chipotle Mexican Grill is a chain of restaurants with operations in the United States, United Kingdom, Canada,
Germany, and France that specialize in burritos and tacos. The company released a mission statement called
Food with Integrity; that highlights its efforts to use organic ingredients and to serve more naturally raised meat
than any other restaurant chains. Chipotle is one on the first chains of fast casual dining and continues to be
a leader in this restaurant subsector. Fast casual is the fastest growing segment of the restaurant industry,
where customers expect food quality that is more in line with full-service restaurants, coupled with the speed
and convenience of fast food.
Chipotle is publicly traded on the New York Stock Exchange, CMG, with a market capitalization in excess of $16
billion. There are over 1,500 locations and over 37,000 full time employees. Chipotle was founded in 1993 in
Denver, Colorado, where the company is based today.
Website:
Number of Locations:
Headquarters:
Stock Symbol:
Market Capitalization:
Revenue (ttm):
Quarterly Revenue Growth (yoy):
Quarterly Earnings Growth (yoy):
www.chipotle.com
1,500+
Denver, Colorado
NYSE: CMG
$16 Billion
$3.07 Billion
18.00%
15.30%
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
1-mi
3-mi
5-mi
19,349
7,487
204,446
76,453
401,243
163,512
$39,907
$50,388
$38,586
$49,099
$40,017
$52,758
Income
Median Household Income
Average Household Income
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Milwaukee is the largest city in Wisconsin and the 28th most populous city in the United States.
Milwaukee is located on the southwestern shore of Lake Michigan. According to the 2010 U.S.
Census, the City of Milwaukee had a population of 594,833 and the Milwaukee MSA had a
population of 1,751,316.
Milwaukee and its suburbs are the home to the international headquarters of 13 Fortune
1000 companies, including Johnson Controls, Northwestern Mutual, Manpower Inc., Jefferson Wells, Kohl’s,
Harley-Davidson, Rockwell Automation, Fiserv, Inc., Hal Leonard, Wisconsin Energy, Briggs & Stratton, Joy
Global, Bucyrus International, A.O. Smith, GE Healthcare Diagnostic Imaging and Clinical Systems and MGIC
Investments. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune
500 company headquarters as a share of the population.
city.milwaukee.gov
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com