Baldwin Park, Moreno Valley and Soledad, Calif. — Hanley Investment Group has arranged the sale of three new single-tenant Dutch Bros Coffee locations in California, totaling approximately $8.1 million. The properties include Dutch Bros locations in Baldwin Park, Moreno Valley and Soledad. Dutch Bros occupies each of the properties on a 15-year triple-net lease basis.
The Dutch Bros in Baldwin Park sold for $3.32 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Development, in the transaction. Brian Melkesian of Lee & Associates represented the all-cash buyer, a San-Gabriel Valley-based private investor. The property is an outparcel to Park Plaza, which is anchored by Superior Grocers. Other tenants at the center include Bank of America, CVS Pharmacy and O’Reilly Auto Parts.
The Dutch Bros location in Moreno Valley sold for $2.61 million. Ashley Berglund of Granite Capital Group represented the buyer, a Los Angeles-based private investor, in the transaction. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Evergreen Development, and procured the buyer in an all-cash 1031 exchange.
In Soledad, the Dutch Bros location sold for $2.15 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, a local private investment firm, and procured the buyer in the all-cash 1031 exchange. Maxi Case of Century 21 Doug Anderson represented the buyer, a private investor, in the transaction. The property is located within the 120,000-square-foot Soledad Marketplace.
Hanley has completed the sale of 80 coffee-related retail investments in the past 48 months.