Lee & Associates and Bang Realty are pleased to present the opportunity to acquire the fee simple interest in a newly converted Chipotle Mexican Grill located at 1701 SW Court Place in Pendleton, Oregon. The property consists of an approximately 2,500 square foot freestanding restaurant situated on a 0.50-acre parcel. The building underwent a full conversion in 2025 and features modern architecture, a digital order “Chipotlane” drive-thru pickup lane, and a 350 square foot outdoor patio.

The property is leased to Chipotle Mexican Grill, Inc. (NYSE: CMG) under a new 15-year corporate lease with approximately 14 years of term remaining. The lease is structured as a double-net (NN) lease where the tenant is responsible for taxes, insurance, interior maintenance, HVAC, and common area costs, providing investors with a passive investment profile. The lease includes attractive 10% rental increases every five years throughout the primary term and four additional five-year renewal options. Chipotle is one of the fastest growing fast-casual restaurant brands in the United States, operating more than 4,000 locations worldwide and generating over $11 billion in annual revenue.

The property benefits from strong retail fundamentals and a strategic location directly adjacent to the Pendleton Round-Up Rodeo Grounds, one of the most recognized rodeo venues in the United States drawing more than 50,000 visitors annually. The site is positioned within Pendleton’s primary retail corridor near national tenants including Walmart Supercenter, Safeway, Taco Bell, Dollar Tree, and Grocery Outlet, providing strong traffic drivers and consumer demand in the trade area. Pendleton serves as the county seat of Umatilla County and functions as the region’s commercial and tourism hub, supported by government services, healthcare, retail, and a strong tourism economy anchored by the nationally recognized Pendleton Round-Up event.