Hanley Investment Group Real Estate Advisors successfully facilitated the pre-sale of a brand new property in Rancho Cordova, an affluent suburb of Sacramento. The property, located at Anatolia Marketplace shopping center, will be leased to Chipotle Mexican Grill and feature a convenient drive-thru “Chipotlane.” The absolute NNN ground lease was sold for $4.34 million and marks Hanley Investment Group’s 19th successful sale of a Chipotle property within the past 36 months.
EVPs Bill Asher and Jeff Lefko represented both parties involved in the transaction – seller Sacramento-based Anatolia Marketplace LLC and buyer, a private investor completing a 1031 exchange from the Bay Area.
Asher commented on their success stating that multiple offers were generated within just three weeks of marketing due to the prime location and strong credit tenancy. They were able to secure an exchange buyer while construction was still underway, closing escrow one month prior to Chipotle opening for business and beginning rent payments. It is expected that Chipotle will open its doors at this location in early September 2024.
The newly constructed building spans over 2,325 square feet on a spacious parcel measuring .77 acres located at4001 Sunrise Blvd., with plans for an anticipated opening date set for early September.
