Jacksonville, FL - Dutch Bros (Roosevelt)

Description:

• The tenant recently signed a brand new 20-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
• Founded in 1992, Dutch Bros Coffee is a publicly traded Coffee Chain (NYSE: BROS), with 800 locations throughout 14 states
• Dutch Bros is the third largest coffee chain in the US with over 830 locations throughout 14 states and a long-term goal of hitting 4000+ stores
• Dutch Bros Coffee Q3 2023 Revenues grew 33% Y-O-Y to a record $265M
• 2024 remodel which features high quality materials, distinct design elements, and high-level finishes

• Dutch Bros is strategically fronting Roosevelt Blvd averaging 45,000 VPD
• Outparcel to major grocer (Winn-Dixie) and less than 4 minutes from Super Target
• Just North of the Jacksonville Naval Air Station, providing a direct consumer base from which to draw
• Jacksonville Naval Air Station is the largest installation in Navy Region Southeast and 3rd largest in the nation, occupying more than 3,800 acres along the west bank of the St. Johns River
• 4 Miles from Westside High School (1600+ Students)
• Surrounding retailers include Target, McDonald’s, Zaxby’s, and more
• 4 miles North off I-295 (139,000 VPD), allowing on/off ramp access for users
• The asset is equipped with a drive-thru, providing ease and convenience for customers