New Construction Chipotle Property in Palmdale, California Sells for $4.39 Million

The 4.45% closing cap rate is the lowest recorded for a Chipotle property in California over the past 2.5 years

SRS Real Estate Partners announced today it has completed the $4.39 million sale of a single-tenant property occupied by Chipotle located at 3852 W Rancho Vista Boulevard in Palmdale, Calif. The property is new construction with its grand opening happening June 4, 2026. The 2,325-square-foot property is situated on 1.1 acres and has a 15-year absolute triple net corporate-guaranteed lease in place.

SRS Capital Markets Calvin Short and Jeff Christian of First Street, Inc., represented the seller, First Street Development out of Phoenix, AZ. The buyer was a Los Angeles-based private 1031 exchange investor. The transaction closed at a 4.45% cap rate, which is the lowest recorded for a Chipotle property sale in California over the past 2.5 years, according to CoStar.

"Chipotle continues to be one of the most sought-after brands among net lease investors due to its strong corporate credit, expanding national footprint and consistent store-level performance," said Short, Executive Vice President and Managing Principal with SRS Capital Markets. "New construction locations with long-term absolute triple net leases in high-growth retail corridors, like this Palmdale property, continue to attract significant investor demand and drive aggressive pricing."

The property is well-located at a signalized intersection of Rancho Vista Boulevard and Town Center Drive and is positioned in the heart of Palmdale's dominant retail corridor with nearby shopping centers including Antelope Valley Mall, Palmdale Marketplace and Rancho Vista Park. The property has more than 148,000 residents / employees within a five-mile radius.

Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.

About SRS Real Estate Partners

Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 29 offices nationwide, the firm measures its success by the achievement of its clients' objectives, satisfaction, and trust. For more information, please visit srsre.com.