Investment Highlights

NEW 15-YEAR ABSOLUTE NNN LEASE TO STRONG RETAIL TENANT
» New 15-year absolute NNN lease to strong and rapidly growing retail tenant
» 10% rental increases every five years, providing a hedge against inflation
» Dutch Bros recently went public – now valued at over $7.9 billion (NYSE: “BROS”)
» Dutch Bros Inc. is one of the fastest-growing brands in the food service and restaurant industry in the U.S by location count
» In 2021, total revenues grew 52.1% to $497.9 million as compared to $327.4 million in 2020

HIGH-TRAFFIC LOCATION SERVING 260,320 RESIDENTS IN A GROWING TEXAS SUBURB
» Dense population of 260,320 within a five-mile radius
» Located along Broadway Boulevard (39,249 AADT) near the signalized intersection of Rowlett Road/Duck Creek Drive (14,914 AADT)
» Access to Interstate 30 (164,465 AADT) with proximity to Interstate 635 (205,720 AADT), increasing traffic to the area
» Walking distance to The Boulders Apartments (348 units) and The Arts Apartments at Broadway Commons (352 units), providing a regular customer base
» Surrounded by high-density single-family housing developments and large apartment complexes
» Average annual household income of $80,102 within three miles of the site (projected to increase 11 percent by 2026)
» Gateway to Downtown Dallas, the third-largest city in Texas (1.3 million residents)

STRATEGIC LOCATION IN DENSE RETAIL CORRIDOR WITH PROXIMITY TO LARGE HOSPITALS AND SCHOOLS
» Adjacent to Taco Bell and shadow-anchored by Walmart Supercenter with many nearby shopping malls and centers, significantly increasing traffic to the site
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Walmart Neighborhood Market, Albertsons, Kroger, Walgreens, McDonald’s, and many more
» Proximity to Baylor University Medical Center (1,025 beds) and Baylor Scott & White Medical Center – Lake Pointe (148 beds)
» Near several large schools and universities including, Dallas College (seven total campuses, 85,000+ students, 6,300 employees), Lakeview Centennial High School (2,404 students), and Kimbrough Middle School (1,362 students)
» Beneficial proximity to several airports including, Dallas Love Field Airport (21 miles) and Dallas/Fort Worth International Airport (fourth-busiest airport by passenger traffic in the world and second busiest in the U.S.)

NEW 2022 CONSTRUCTION WITH TRIPLE-LANE DRIVE-THRU
» 2022 construction featuring a dedicated triple-lane drive-thru, providing additional customer convenience, and boosting sales revenue
» Texas has no state income tax, estate tax, or inheritance tax

Property Description

SOLD

Dutch Bros Coffee is strategically located along Broadway Boulevard (39,249 AADT) near the signalized intersection of Rowlett Road/Duck Creek Drive (14,914 AADT). The location provides easy access to Interstate 30 (164,465 AADT), with proximity to Interstate 635 (205,720 AADT), greatly increasing traffic to the area. The property is adjacent to Taco Bell and shadow-anchored by Walmart Supercenter with many nearby shopping malls and centers, significantly increasing traffic to the location. The site is in a dense retail corridor surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Walmart Neighborhood Market, Albertsons, Kroger, Walgreens, McDonald’s, and many more. The site is surrounded by high-density single-family housing developments and large apartment complexes. The Boulders Apartments (348 units) and The Arts Apartments at Broadway Commons (352 units) are within walking distance to the property, providing a regular customer base for the site. The location is densely populated with 260,320 residents within a five-mile radius, providing a consistent customer base for the property. The area is experiencing an upward growth, with an average annual household income of $80,102 within three miles of the site, and projected to increase 11 percent by 2026, posing Dutch Bros Coffee and Garland for concurrent growth.

The location is a gateway to Downtown Dallas, the third-largest city in Texas (1.3 million residents). The site maintains beneficial proximity to many airports including Dallas Love Field Airport (21 miles) and Dallas/Fort Worth International Airport (fourth-busiest airport by passenger traffic in the world and second busiest in the U.S.). The property is near several large schools and universities including Dallas College (seven campuses, 85,000+ students, 6,300 employees), Lakeview Centennial High School (2,404 students), and Kimbrough Middle School (1,362 students). The site maintains proximity to large area hospitals and one of the top employers in the region, Baylor University Medical Center (1,025 beds), and Baylor Scott & White Medical Center – Lake Pointe (148 beds).