Marcus & Millichap has completed the sale of a net-leased Chipotle property in Toledo, Ohio, for $2.18 million. The 2,325-square-foot Chipotle is a 2025 construction located at 3360 Glendale Ave. and features a drive-thru, offering added convenience in a high-traffic corridor.
“The buyer acquired a well-positioned property in a dense infill market with more than 185,000 residents within a five-mile radius and over 39,000 vehicles passing the site daily,” said Scott Woodard, first vice president investments. “It was a pleasure working with all parties involved. The buyers were professional and proactive, helping ensure a smooth closing. The sellers did an excellent job developing the site on Glendale Avenue, adjacent to Southland Shopping Center and the University of Toledo Medical Center.”
Woodard and Derrick Dougherty, investment specialists in Marcus & Millichap’s Philadelphia office, procured the buyer, a private net-lease owner based in New York. Michael Glass is the firm’s broker of record in Ohio.
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