Fort Wayne, IN - Dutch Bros

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Dutch Bros investment property located in Fort Wayne, Indiana. The tenant, Boersma Bros, LLC (dba Dutch Bros) recently signed a brand new 15 year lease, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the term, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Dutch Bros is located along Illinois Road, the primary retail thoroughfare serving southwest Fort Wayne, benefiting from 35,500 VPD on Illinois Road / SR 14 and 70,800 VPD on U.S. Highway 24 / Interstate 69. The site sits within Fort Wayne’s dominant Illinois Road retail corridor, anchored by Orchard Crossing — a Target, Hobby Lobby and Barnes & Noble–anchored center that also features national/credit tenants including Lowe’s, ALDI, Five Below, Dollar Tree and Orangetheory Fitness. The asset is located along the same corridor as Jefferson Pointe Shopping Center, a 659,000-square-foot open-air lifestyle center anchored by Burlington Coat Factory, AMC Theatres IMAX, Marshalls, Michaels, and Von Maur. In addition, the property is near Apple Glen Crossing, a Walmart Supercenter–anchored center that also features Kohl’s, Best Buy, Petsmart, Dick’s Sporting Goods and ULTA Beauty. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Menards, Meijer, Office Depot, Planet Fitness, Chick-fil-A, Popeyes, First Watch and McAlister’s Deli, further increasing consumer traffic to the site. The subject property is in close proximity to Lutheran Hospital (396 beds), a tertiary care facility and the region’s only heart and kidney transplant center, serving northeastern Indiana, northwestern Ohio and southern Michigan. The 5-mile trade area is supported by a population of over 137,000 with an average household income of approximately $80,000.

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