Investment Highlights

NEW 15-YEAR ABSOLUTE NNN GROUND LEASE WITH CORPORATE GUARANTY
» New 15-year absolute NNN ground lease with a strong corporate guaranty
» Dutch Bros recently went public valued at over $3.8 billion (NYSE: “BROS”)
» As of December 31, 2021, Dutch Bros had 538 locations across 12 states, with plans to grow to 4,000 locations nationwide
» 10% rental increases every five years, providing a hedge against inflation
» 2022 construction featuring a dedicated dual-lane drive-thru, providing additional customer convenience and boosting sales revenue

HIGH-VISIBILITY LOCATION IN LARGE AND GROWING UTAH SUBURB
» Conveniently located on West 800 South, with access to 19,285 vehicles per day
» Less than a quarter of a mile from Interstate 15, with visibility to an additional 48,000 vehicles per day
» Utah County grew by a staggering 35.7% from 2010-2020, the 35th fastest-growing county nationwide
» 50,314 residents within a five-mile radius, providing a consistent customer base for the property
» Average household income of $91,313 within five miles and projected to increase 14 percent by 2026, poising Dutch Bros and the immediate trade area for concurrent growth

PROXIMITY TO PAYSON’S LARGEST RETAIL CENTERS, SCHOOLS, AND COMMUNITY HUBS
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Taco Bell, Arby’s, IHOP, KFC, AutoZone, Sherwin Williams (also available), Big O Tires, and many more
» 1.5 miles from Payson High School (1,318 students) and Payson Junior High School (1,051 students)
» 10 miles from Utah Lake (285,000+ annual visitors)
» Interstate 15 carries significant commuter traffic to and from the Salt Lake City MSA (1.24 million population)
» One mile from Payson Utah Temple (95,000+ members), providing a large customer base to the site

Property Description

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This Dutch Bros Coffee is conveniently located on West 800 South, with excellent access and visibility to 19,285 vehicles per day. The site is less than a quarter of a mile from Interstate 15, with visibility to an additional 48,000 vehicles per day. Utah County grew by a staggering 35.7% from 2010-2020, the 35th fastest-growing county nationwide. The site has strong demographics, with 50,314 residents living within a five-mile radius, providing a consistent customer base for the property. The average household income is $91,313 within five miles and is projected to increase 14 percent by 2026, poising Dutch Bros and the immediate trade area for concurrent growth.

The property benefits from its proximity to Payson’s largest retail centers, schools, and community hubs. Major tenants in the surrounding area include Walmart Supercenter, Taco Bell, Arby’s, IHOP, KFC, AutoZone, Sherwin Williams (also available), and many more, significantly increasing traffic to the site. The property is 1.5 miles from Payson High School (1,318 students) and Payson Junior High School (1,051 students), driving breakfast and lunchtime traffic to the location. The site is 10 miles from Utah Lake (285,000+ annual visitors) and maintains excellent proximity to Payson Utah Temple (95,000+ members), providing a large customer base to the site.