INVESTMENT HIGHLIGHTS
NEW CONSTRUCTION: The Build-to-Suit Property was completed in 2021. Chipotle has 7+ years remaining on their lease with four (4), 5-year renewal options. Aspen Dental signed a new 10-year lease with three (3), 5-year renewal options. Aspen Dental’s space is under construction. Chipotle benefits from a modern design with outdoor seating and a Chipotlane (drive-thru).
ATTRACTIVE RENT INCREASES: The Chipotle lease calls for a 10% rent increase every 5 years throughout the base term and at the start of each option period and the Aspen Dental lease calls for a 10% increase in year 6 and 8% increases at the start of each renewal option providing the investor with an attractive increase in revenue and hedge against inflation.
PRIME RETAIL LOCATION: The Property is situated in one of the best locations in North Conway to capture passing motorists on the heavily-travelled US Route 302/NH Route 16 commercial corridor (White Mountain Highway) which includes most of the area’s retail, dining, lodging and entertainment options. The Property is also located adjacent to the entrance for Settler’s Green, a popular 75-store, 500,000 square foot shopping center which helps drive considerable traffic to the area.
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