Dutch Bros - LaPorte, TX_Property for Sale
Dutch Bros - LaPorte, TX_Property for Sale
9302 Spencer Highway, La Porte, TX, 77571, US

Dutch Bros - LaPorte, TX

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the brand-new Dutch Bros located in La Porte, TX (the “Property” or “Asset”) within the greater Houston MSA.

Situated on the hard-corner of Spencer Hwy and Ridgefield Rd, the Property benefits from exposure to 18,000 vehicles per day. The surrounding corridor features a plethora of commercial activity anchored by a Walmart Supercenter and H-E-B, which combined has 4 million annual visitors and rank amongst the top 30% of their respected brands in terms of most frequented locations (per Placer Ai). Other retailers in the immediate area include Whataburger, Chick-Fil-A, Aldi, and McDonalds which opened for business in 2023. Development plans of the land across Spencer Hwy are underway for a multi-tenant retail shopping center. Additionally, San Jacinto College’s Central Campus is located 1.3-miles from the Property and serves more than 12,000 students and faculty.

Dutch Bros (the “Tenant”) is one of the fastest growing coffee chains in the nation, with 830 stores across 16 states and annual revenues of nearly $1 billion (31% YoY growth). The tenant operates on a 15-year ground lease with low contractual rents, periodic market rent increases, four renewal options and zero landlord responsibilities. This location is scheduled to open in May 2024.

 La Porte is an emerging community roughly 25 miles southeast of downtown Houston. In recent years, La Porte has experienced tremendous business and population growth. Since 2010, the surrounding 5-mile radius’ population has increased by nearly 10%. La Porte’s proximity to the Houston Bayport & Houston Spaceport has been a driving force behind the city’s growth. Several apartment complexes and single-family homes have recently been developed to support the area’s growth.

This offering presents an opportunity to acquire a long-term, passive cash flow guaranteed by a top coffee chain with zero landlord responsibilities in a top growth metro region. 

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Attributes

Building area net
88 sm
Occupancy
100%
Year built
2024
Land area gross
0.41 ha
WAULT
14.8 years
Cap rate
5.2%

Media

Investment highlights

  • Ground Lease structure with 14.8 years of remaining lease term and market rent bumps
  • Corporate Dutch Bros, 2024 new construction
  • Zero landlord responsibilities
  • AHHI within a 5-mile radius exceed $110,000
  • Located within a corridor anchored by Walmart and H-E-B and San Jacinto College’s Central Campus which enrolls more than 12,000 students
  • Exposure to 18,000+ VPD
  • The Houston MSA has experienced a 23% population growth since 2010


Dutch Bros - LaPorte, TX 4_Property for Sale
Dutch Bros - LaPorte, TX 4_Property for Sale

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Dutch Bros - LaPorte, TX (0 Properties)

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Last updated
Mar 26, 2024