August 2023

Recently Sold – Chipotle, Christiansburg

Aerial view of a recently sold Chipotle restaurant building in Christiansburg, prominently featuring the logo, with a surrounding parking lot in a suburban area.

Thomas Company is pleased to announce the successful closing of a Chipotle Mexican Grill (NYSE: CMG) located in Christiansburg, VA. This fee simple interest property totals 2,350 square feet of retail space with over 7 years of term remaining with 10% escalations. This property had limited landlord responsibilities. This Chipotle location has a drive-thru and is 4 miles from Virginia Tech, in the newly developed Christiansburg Marketplace. The list price for this property was approximately $2 million.

Key Highlights

  • The Christiansburg Marketplace serves as a hub for retail, dining, and entertainment, attracting both residents and visitors alike. The inclusion of drive-thru facilities have become increasingly popular due to their efficiency and accessibility, especially in areas with high traffic volume such as university campuses.
  • Proximity to Virginia Tech University: Investing in a property located just 4 miles from Virginia Tech University presents a remarkable opportunity. With a student body exceeding 30,000, the demand for various amenities, including food and beverage options, housing, and retail services, is consistently high. The property’s location within the newly developed Christiansburg Marketplace further enhances its investment appeal experiencing rapid growth and increased economic activity, presenting prime opportunities for investors.