New-Construction Chipotle in Palmdale Trades at 4.45% Cap, Lowest for Brand in California in 2.5 Years

The $4.39 million deal for the 2,325-square-foot pad signals aggressive investor appetite for newly built, corporate-guaranteed quick-service restaurants in high-growth Southern California retail corridors. A newly constructed Chipotle Mexican Grill restaurant in Palmdale has sold for $4.39 million at a 4.45 percent cap rate, marking the lowest closing yield recorded for a Chipotle property in […]