North Port, 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 1,040 locations throughout 18 states and a long-term goal of hitting 4,000+ stores
• 2025 construction which features high quality materials, distinct design elements, and high-level finishes

• Dutch Bros is strategically fronting Tamiami Trail (37,500 VPD), a major retail and commuter thoroughfare serving North Port and the surrounding major trade areas
• Just West of Cocoplum Village Shops, anchored by T.J. Maxx, DICK’S, Hobby Lobby, Old Navy, and more
• Cocoplum Village Shops ranks in the 95th percentile (1,752 out of 41,434) of all nationwide shopping centers via Placer.ai with 4.9M visitors annually
• The Publix to the East ranks in the 92nd percentile (5,280 out of 69,058) of all nationwide grocery stores via Placer.ai
• Across the street from a new development that features MD Now, Culver’s, MUV, KFC, Aspen Dental, and Hampton Inn, furthering the demand for new retail along this corridor
• Other new developments to East include a newly built HCA Florida Tamiami Trail ER and KIA dealership
• The surrounding tenants and strong consumer demand for retail will provide long-term viability in the underlying real estate
• In Q1 2025, The Sarasota County Public Hospital Board approved a $450 million plan to build North Port’s first hospital, less than 5 miles North of the subject property
• The six-story, 100-bed hospital on North Sumter Boulevard will be built on an undeveloped, 32-acre parcel that Sarasota Memorial Health Care System (SMH) owns

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Listing ID: a28TP000001lQePYAU