A new property leased to Chipotle Mexican Grill with a drive-thru “Chipotlane” at Anatolia Marketplace shopping center in Rancho Cordova was acquired by a Bay Area-based 1031 exchange investor in a pre-sale. The absolute NNN ground lease sold for $4.34 mil.
The 2.3k sf Chipotle building sits on a 0.77-acre parcel at 4001 Sunrise Blvd. It is strategically located near the signalized intersection of Sunrise and Douglas Rd (44,000 cars per day) and the signalized intersection of Sunrise and Herodian Dr. Sunrise Blvd serves as the main thoroughfare connecting both U.S. Route 50 (El Dorado Freeway) and California State Route 16 (Jackson Road).
Hanley Investment Group’s Bill Asher and Jeff Lefko represented the buyer and the seller, Anatolia Marketplace LLC, in the transaction.
“We generated multiple offers and procured a 1031 exchange buyer within three weeks of marketing the property, a testament to the strength of the location and credit tenancy,” said Asher. “We secured the buyer while the property was under construction and closed escrow approximately one month before Chipotle opened for business and started paying rent.” Chipotle is expected to open in early September 2024.
In May 2024, Hanley Investment Group arranged the sale of Shops III at Anatolia Marketplace, a new 5.9k sf retail pad building containing four tenants: Popeyes Louisiana Kitchen (with a drive-thru), Cold Stone Creamery, Jamba and Capriotti’s Sandwich Shop. Other tenants at Anatolia Marketplace include stand-alone buildings leased to McDonald’s, Dutch Bros and Chevron.
The development also includes another new construction, a 100%-leased, 9k sf multi-tenant pad building featuring Round Table Pizza, Anatolia Dental Group (Pacific Dental Services) and Kids Care Dental.