TOLEDO, Ohio – CrownPoint Partners, a national real estate brokerage and advisory firm dedicated to the sale of net lease investments and sale-leaseback advisory services, announced today the sale of a new construction, single-tenant, net-leased property occupied by a Chipotle Mexican Grill Drive-Thru in Toledo, Ohio, for $2.2 million.
Julius Swolsky and Shannon Bona, Managing Partners and Co-Founders of CrownPoint Partners, represented the seller, DWJS LLC, an Ohio-based developer and repeat client, in association with Joe Swolsky, Principal of Prime Retail Advisors in Toledo. The buyer was a private investor from the Mid-Atlantic region.
According to Bona, the property garnered nearly a dozen qualified offers, ultimately leading to a swift, 36-day closing with an all-cash buyer.
The property, located at 3360 Glendale Avenue, features a 2,325-square-foot building with a "Chipotlane" drive-thru on a 0.68-acre site. The asset is secured by a long-term 15-year triple-net lease featuring 10% rental increases every five years, along with four additional five-year renewal options. The lease is corporately guaranteed by Chipotle Mexican Grill (NYSE: CMG). Chipotle, a publicly traded fast-casual chain known for its fresh, Mexican-inspired fare and commitment to sustainably sourced ingredients, had 3,781 company-owned restaurants in the U.S. as of the end of Q1 2025.
"We started marketing the property as construction neared completion and facilitated a quick closing shortly after Chipotle's April 5th grand opening. The sale, which closed escrow on April 24th, achieved a 5.85% cap rate, underscoring the significant investor interest driven by Chipotle's established brand and corporate guarantee," said Julius Swolsky.
"The 'Chipotlane' drive-thru has been a key factor in the heightened demand for Chipotle, enabling the chain to compete directly with other QSR drive-thrus and ultimately increasing the property's long-term investment appeal," Bona noted.
This sale marks the sixth Chipotle transaction completed by Swolsky and Bona within the last six months, indicating a strong market for single-tenant properties leased to the popular restaurant chain. The Toledo Chipotle location benefits from its position as an outparcel to the Southland Shopping Plaza, sharing access and a parking lot with Glendale Apartments, a 55-unit community. The shopping center is home to national retailers such as Planet Fitness, Family Dollar, McDonald's, Arby's, Mod Wash, Firestone, Fifth Third Bank, Citi Trends, and Merchant Bank.
The property sits directly behind the University of Toledo Health Science Campus, the University of Toledo Medical Center, and Rehabilitation Hospital of Northwest Ohio, providing a steady consumer base. Daily traffic at the intersection of Glendale Avenue and Byrne Road averages 39,500 vehicles, and nearly 186,000 residents within a five‑mile radius contribute approximately $2.1 billion in consumer spending.
Currently, CrownPoint Partners, in collaboration with Prime Retail Advisors, has several listings available in Northwest Ohio, including the Toledo market. These include a newly renovated Tuffy Tire & Auto Service, a 19,000-square-foot shopping center anchored by The Distillery on Heatherdowns Boulevard in Toledo, and a new construction LensCrafters property in Cincinnati.
About CrownPoint Partners
CrownPoint Partners is a national real estate brokerage and advisory firm with offices in West Palm Beach, Florida, and Newport Beach, California. The firm is led by principals Julius Swolsky, Shannon Bona, and Don Bingham, recognized experts in net lease and sale-leaseback transactions. Leveraging decades of experience in investment sales, development, and institutional banking, CrownPoint provides services at every stage of the investment journey.
CrownPoint's client base spans REITs and institutions, private equity, developers, business owners, and private investors. CrownPoint's Net Lease Investments and Sale-Leaseback platforms offer tailored solutions with specializations in investment sales, acquisitions, corporate expansion, value optimization, and unique ways to unlock capital.
Committed to consistency, transparency, and responsible investment practices, CrownPoint builds lasting partnerships and helps clients achieve their long-term financial goals. Visit: www.crownpoint.co.
Media Contact
Company Name: CrownPoint Partners
Contact Person: Shannon Bona, Managing Partner / Co-Founder
Email: Send Email
Phone: (203) 592-4688
Address:700 S. Rosemary Square Suite 204
City: West Palm Beach
State: Florida
Country: United States
Website: https://crownpoint.co/
