Dallas-based, privately-held real estate investment firm Mohr Capital has acquired the convenience store, at 3355 Cobb Parkway, for redevelopment as a Chipotle Mexican Grill, the company announced the week.
The property is a 1.36-acre out-parcel in front of Home Depot, fronting Cobb Parkway, across from Lakeside Marketplace. Mohr Capital began razing the existing 2,325 square-foot building — a T-Fuel gas station and convenience store — in January and will deliver the pad site to Chipotle.
Chipotle Mexican Grill Inc., a fast-casual restaurant chain with more than 2,700 locations and 94,000 employees, will develop one of its new drive-thru restaurants — called “Chipotlanes” — on the property and expects to complete construction in 2021. Kimley-Horn Engineering and GPD Group will serve as architecture consultants on the project.
“This is our second transaction with Chipotle in the past six months, and it perfectly exemplifies our strategy to source and close desirable retail property that attracts credit tenants,” Bob Mohr, chairman of Mohr Capital, said in the announcement. “Chipotle has performed well in the pandemic, leveraging its app and new drive-thru concept to grow its digital sales. We’re happy to help in that effort.”