Matthews™ Facilitates Benchmark Cap Rate Sale of Chipotle in Tennessee

NASHVILLE, TN— Matthews™, a commercial real estate investment services and technology firm, facilitated the sale of a newly constructed Chipotle, located at 1711 Galleria Blvd in Franklin, Tennessee. Matthews™ Senior Associate Ben Burnett represented the seller in the $5,150,000 transaction, which marked a benchmark cap rate of 4.78% for a retail property sold in the Franklin/Cool Springs submarket within the last year.

 

Located in the CoolSprings Crossing Shopping Center, the 1,880-square-foot build-to-suit property is backed by the brand’s first absolute NNN, 20-year lease in the state of Tennessee and includes four five-year renewal options. The seller, a repeat Matthews™ client, acquired the formerly vacant Back Yard Burgers site as a merchant developer and brought the redeveloped asset to market as part of a broader portfolio strategy.

 

Matthews™ has been involved with the asset since 2024, representing two different ownership entities through its evolution from a vacant retail site to a newly developed build-to-suit Chipotle. Leveraging its national net lease platform, the Matthews™ agents executed a targeted marketing process that generated strong investor interest and brought the first qualified buyer under contract who was drawn to the asset’s new construction, long-term lease structure, and premier Cool Springs location. The transaction closed the same week the Chipotle opened for business, enabled by clear communication and a streamlined execution process.

 

“Having represented the ownership through the entire lifecycle of this asset, this closing is a testament to the value of long-term partnership,” said Burnett. “All parties worked closely to navigate a precise timeline, ensuring a seamless transition that met the needs of both the seller and a buyer seeking a high-quality, durable investment in one of Tennessee’s most coveted retail corridors.”

 

For more information, please contact Ben Burnett or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.