Abs. NNN Leased Portillo’s Double Drive-Thru 12221 Montana Ave 6,250 SF Retail Building El Paso, TX 79938 $8,181,187 CAD ($1,308.99 CAD/SF) 5.50% Cap Rate

Pegasus Investments Real Estate Advisory Inc.?, in conjunction with ParaSell Inc.?, as exclusive representatives for the Seller, are pleased to present the opportunity to acquire a newly constructed, 100% absolute triple net (NNN) Portillo’s drive-thru restaurant located in El Paso, Texas (the “Property”).? The Property is leased to the corporate entity of Portillo’s Inc.? (NASDAQ: PTLO), a publicly traded, non-franchised fast-casual operator with over 100 locations and approximately $732 million in annual revenue.? The building was constructed ground up by Portillo’s and delivered in 2026 with a new 10-year lease featuring 10% rental increases every five years and four (4) 5-year extension options.? The absolute net lease structure provides investors with a passive, durable, long-term cash flow at an attractive basis backed by a growing public company.?
Portillo’s is one of the most recognizable and high-performing fast-casual brands in the country, generating average unit volumes of approximately $8.3 million, among the highest in the segment and nearly triple the AUV of a typical McDonald’s location.? The brand’s menu of Chicago-style hot dogs, Italian beef sandwiches, char-grilled burgers, and its legendary chocolate cake commands intense consumer loyalty and drives destination traffic well beyond each location’s immediate trade area.? This El Paso restaurant marks Portillo’s first entry into the market, a meaningful milestone that reflects the brand’s long-term conviction in a city that surpassed one million residents in 2025.?
The Property is improved with a ±6,250 SF freestanding restaurant with a double-drive lane and nearly 80 exclusive parking spaces on a ±2.18-acre parcel within Montana Commons.? Montana Commons is a brand new fully leased six-pad development site co-tenanted by leading national operators including QuikTrip, Olive Garden, Panda Express, LongHorn Steakhouse, and Mister Car Wash.? The Property is located directly across from one of the highest-performing Walmart Supercenters in the country (top 1% nationally, per Placer.?ai) and a Lowe’s Home Improvement Store.? The corridor’s strength is further validated by the co-tenants which have acquired their real estate at Montana Commons — QuikTrip, Mister Car Wash, and Panda Express have each acquired their respective parcels at fair-market pricing, demonstrating long-term commitment to the location.?
The Property is located in East El Paso, with average household incomes exceeding $93,000 within a 3-mile radius and a trade area population approaching 200,000 residents, making it the largest and fastest growing submarket in the MSA.? The long-term trajectory of this investment is further reinforced by TxDOT’s nearly $400 million Montana Expressway, expected to carry over 100,000 VPD upon completion in 2027, and Fort Bliss, which generates a $28 billion annual economic impact.?
Fort Bliss, located immediately adjacent to the Property, supports 127,000 jobs and in March 2026 was selected as the site of a Carlyle Group hyperscale AI data center projected to bring an additional 2,000 jobs and billions in private investment to the region.? Finally, El Paso’s ports of entry support nearly $100 billion in trade annually and the MSA surpassed one million residents in 2025, roughly half of the 2.0 million residents in Ciudad Juarez, which collectively provide a meaningful and dense population base.?