Overview

Description

• The tenant recently signed a brand new 15-year lease with 4 (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
• Founded in 1992, Dutch Bros Coffee is a publicly traded Coffee Chain (NYSE: BROS), with 800 locations throughout 14 states
• 2023 construction which features high quality materials, distinct design elements, and high-level finishes
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Investor benefits from leased fee interest (land ownership)
• Ideal, management-free investment for a passive investor in a state with no state income tax

• Subject property is strategically located off the signalized, hard corner intersection of Gallatin Pike N and Myatt Dr averaging 53,500 combined VPD
• Dutch Bros is part of a larger development that features TJ Maxx, Olive Garden, Whataburger, Concentra, and more
• The strong tenant synergy will promote significant crossover store exposure to
the site
• The immediate trade area is supported by a strong big box retailer presence from The Home Depot, Target, Walmart Supercenter, PetSmart, Hobby Lobby, and more
• Less than 3 miles from Interstate 65 (176,600 VPD), providing direct on/off ramp access for travelers
• The asset is equipped with a drive-thru, providing ease and convenience for customers
• Drive-thru stores generate significantly higher sales and increase productivity
• More than 109,000 residents and 50,000 employees support the trade area
• $82,876 average household income

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