Greeneville, TN - Dutch Bros

Description:

• The tenant recently executed a brand new 15-year lease with three (3) additional 5-year renewal options, demonstrating a long-term commitment to the site
• The lease features 10% rental increases every five years throughout the initial term and at the start of each option period, driving NOI growth and providing an effective hedge against inflation
• Dutch Bros (NYSE: BROS) is the third largest coffee chain in the US with over 1,177 locations throughout 25 states and a long-term goal of hitting 4,000+ stores
• New construction with high-quality materials and the brand’s current design package — minimal deferred maintenance exposure for a passive investor

• Outparcel to a Lowe’s ranking in the 92nd percentile nationally (940K+ annual visits, 81st percentile in Tennessee) — a top-decile big-box anchor driving captive customer flow to the site
• Directly adjacent to Fairgrounds Plaza, a Publix-anchored center with Jersey Mike’s, Domino’s, and other national in-line tenants
• Within minutes of Plaza Shopping Center, Crockett Crossing (1.1M visits) and Greeneville Commons (2.7M visits) — the dominant regional power center
• Combined 4.7M+ annual visits across the immediate retail corridor, creating one of the most concentrated daily-trip nodes in East Tennessee outside the Tri-Cities
• Co-tenancy with Publix, Lowe’s, and Walmart (within trade area) — three of the most credit-worthy national anchors a coffee tenant could be paired with
• The corridor continues to expand with new retailers including Panda Express, Texas Roadhouse, Smoothie King, and Wingstop, further enhancing consumer traffic and retail synergy in the area
• Additional daytime traffic is supported by the adjacent industrial employment base, including major employers such as Landair Logistics (650 employees), MECO Corporation (110 employees), and Parker Hannifin (600 employees)

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Listing ID: a28TP000002lYbNYAU