Chipotle Mexican Grill has signed lease for two new retail spaces in Manhattan as the chain breaks its own digital sales records.
Winick Realty Group’s Kenneth Hochhauser, Chipotle’s exclusive agent for Manhattan, helped the brand break into neighborhoods where it has long been seeking opportunities— Hamilton Heights/Washington Heights South and Clinton/Upper West Side.
3781 Broadway, located at the Northwest corner of West 157th Street, offers 2,100 s/f on the ground floor. Sylvie Shames and Sarah Fabian of Friedland Properties represented the landlord.
885 10th Avenue, located between West 57th and West 58th Streets, is comprised of 2,800 s/f of ground-floor space. Davit Mneyan of the Pinnacle Group represented the landlord.
Both spaces were formerly occupied by Boston Market.
In its first quarter earnings report, Chipotle reported an increase in revenue of 7.8 percent. While the onset of the coronavirus pandemic hit sales hard in March, the company reported digital sales grew by 80.8 percent over the quarter.
Around 100 restaurants were temporarily closed as a result of COVID-19, mainly inside malls and shopping centers, but for those still operating pickup and delivery, Chipotle said it moved swiftly to promote digital and delivery services which included a national partnership with Uber Eats. As a result, digital sales for the month of March grew 102.6 percent year over year.
“I am grateful to all our employees for their commitment and efforts in providing guests access to our safe, delicious, high-quality food made from real ingredients during this unprecedented time,” said Brian Niccol, chairman and CEO, Chipotle.
“Investing in digital over the last several years has allowed us to quickly pivot our business with Q1 digital sales reaching our highest ever quarterly level of $372 million. Our strong brand, business model and balance sheet give us the confidence to not only weather this downturn but continue to judiciously invest in key areas so that when we come out the other side, we will emerge even stronger.”