Titusville, FL - Dutch Bros

Description:

• The tenant recently signed a brand new 15-year lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• Dutch Bros is the third largest coffee chain in the US with over 1,080 locations throughout 24 states and a long-term goal of hitting 4,000+ stores
• 2026 construction which features high quality materials, distinct design elements, and high-level finishes
• This Dutch Bros is on an oversized 1.69 acre parcel which allows for long-term viability in the underlying real estate and future redevelopment potential

• Dutch Bros is strategically located at the signalized, hard corner intersection of Cheney Hwy and Hickory Hill Blvd averaging 28,500 VPD
• The dense trade area has retailers such as Target, The Home Depot, Lowe’s, Starbucks, ALDI, McDonald’s and Taco Bell, along with a proposed Chick Fil A located on the NEC of Cheney and Hickory Hill
• Located just 3 miles from 22-acre, $240 million mixed-use development creating 1,500 jobs and contributing $28.6 million to the regional economy
• Brevard County’s aerospace workforce has nearly doubled as Kennedy Space Center undergoes massive expansion, including SpaceX’s $1.8 billlion Starship program and Amazon $120 million Project Kuiper facility
• Publix just to the East ranks on the top 90% (130 out of 1,371) of all nationwide grocery stores according to Placer. ai
• There are several new housing developments underway near the asset such as Huntington Park, Brookshire & Forest Glen Senior Living
• Just off I-95 (56,000 VPD), allowing on/off ramp access for users
• The asset is equipped with a drive-thru, providing ease and convenience for customers

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Listing ID: a28TP000002PqThYAK