Loves Park, IL - Dutch Bros

Description:

SRS Real Estate Partners-Midwest, LLC 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 Loves Park, Illinois. The tenant, Boersma Bros. LLC (dba Dutch Bros) recently signed a brand new 15-year lease, with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, 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 near the signalized intersection of West Lane Road (State Highway 173) and Forest Hills Road, with frontage to 33,270 VPD. West Lane Road is the major retail thoroughfare serving the cities of Loves Park and Machesney Park. The Dutch Bros is an outparcel to Rockford Speedway Corners, the 21-acre first phase of the 50-acre redevelopment of the legendary Rockford Speedway, that features national/credit tenants including Club Car Wash, Belle Tire and AutoZone, with a future multi-family/industrial development directly behind the site. The asset is directly across West Lane Road from a Meijer supercenter and Menards, with Walgreens, Casey’s and CVS Pharmacy fronting the intersection. In addition, Dutch Bros is also positioned between the Gateway District, a Target and The Home Depot-anchored shopping destination that also features Hobby Lobby, Burlington and PetSmart, and Machesney Crossing, a center anchored by T.J. Maxx and Ross that also features Old Navy, Ulta, Michaels and Five Below. The property is in the center of a primary retail corridor with other nearby national/credit tenants including Kohl’s, Lowe’s, ALDI, Discount Tire, Starbucks, Chick-fil-A, Panera Bread, Chili’s, Buffalo Wild Wings, AMC Theatres, and more, further increasing consumer traffic to the site. The subject property is in close proximity to an OSF HealthCare medical campus, immediately east at Forest Hills Road, as well as Harlem High School (1,884 students) and the HCC–Wentland Family Sports Complex. The 5-mile trade area is supported by a population of over 80,730 with an average household income of $104,000.

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Listing ID: a28TP000003IsY6YAK