CORONA DEL MAR, Calif. - Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of three brand-new construction, single-tenant properties occupied by a 950-square-foot Dutch Bros Coffee drive-thru format to three different private buyers in 30 days. The properties, which sold for a combined $8.08 million, each have a new 15-year initial (absolute triple-net) lease term.

Baldwin Park (Los Angeles County), California

In the first transaction, Hanley Investment Group's Executive Vice Presidents Bill Asher and Jeff Lefko represented the seller and developer, Evergreen Development, in the sale of a new Dutch Bros ground lease at 14521 Ramona Boulevard in Baldwin Park, California, for $3.32 million. Spanning the last 50 years, Evergreen is a national retail and multi-family development company with a heavy emphasis on developing projects in California, Colorado, Arizona, and Utah. The buyer, a San Gabriel Valley-based private investor, was represented by Brian Melkesian, a senior vice president with Lee & Associates in Ontario, California.

"We secured a San Gabriel Valley-based all-cash buyer seeking a year-end closing and negotiated a timely due diligence period to meet the buyer's year-end closing objective," noted Asher. "The sale represented the first Dutch Bros investment sale in the Los Angeles area."

The Baldwin Park Dutch Bros was built in 2024 on a 0.85-acre outparcel to Park Plaza on Maine, a Superior Grocers-anchored shopping center at the signalized corner pad at the intersection of Ramona Boulevard and Bogart Avenue. According to Asher, the new 15-year absolute triple-net ground lease has 10% increases every five years during the initial term with three five-year options. Additional tenants at the center include Bank of America, Chase Bank, CVS Pharmacy, and O'Reilly Auto Parts.

Moreno Valley (Riverside County), California

In the second transaction, Asher and Lefko represented the seller and developer, Evergreen Development, in the sale of a new Dutch Bros ground lease at 23140 Hemlock Avenue in Moreno Valley, California, for $2.61 million. The buyer, a Los Angeles-based private investor, was represented by Ashley Berglund, of Granite Capital Group in Santa Barbara, California.

"We procured a Southern California-based all-cash 1031 exchange buyer prior to the tenant opening for business and paying rent," Asher noted.

The Moreno Valley Dutch Bros was built in 2024 on a 0.69-acre parcel located directly across from a top-performing Home Depot (top 20% nationwide per Placer.ai) and at the off-ramp to the 60 Freeway (147,000 cars per day) and two miles east of the on-ramp to the 215 (Escondido) Freeway (254,000 cars per day). Additional tenants in the immediate area include Walmart, Stater Bros. Markets, Target, and Costco.

According to Asher, the new 15-year absolute triple-net ground lease has 10% increases every five years during the initial term with three five-year options.

Soledad (Monterey County), California

In the third transaction, Asher and Lefko represented the seller and developer, a local private investment firm, in the sale of a new Dutch Bros ground lease at 526 Nestles Road in Soledad, California, for $2.15 million. The buyer, a private investor based in Northern Los Angeles County, California, was represented by Maxi Case with Century 21 Doug Anderson in Lancaster, California.

"We procured a Southern California-based all-cash 1031 exchange buyer within the first three weeks of marketing the property and negotiated an efficient due diligence period to help fulfill the buyer's exchange deadline," said Asher. "The store, which was the first Dutch Bros in Monterey County, set a record for store openings in Northern California."

According to Asher, the new 15-year absolute triple-net ground lease has 10% increases every five years during the initial term with four five-year options.

The Soledad Dutch Bros was built in 2024 on a 0.85-acre parcel within Soledad Marketplace, a new 120,000-square-foot grocery-anchored shopping center. Current tenants include Grocery Outlet and Premiere Cinemas. Planned tenants include Tractor Supply, DaVita Dialysis, and Quick Quack Car Wash. The property is adjacent to the U.S. Route 101 ramps on Front Street. U.S. Route 101 is the major highway through both the Salinas Valley and the Central Coast, and links Soledad to the rest of the Central Coast region, San Francisco to the north, and Los Angeles to the south. Soledad is a notable tourist destination, owing to the heavily restored Soledad Mission, its proximity to Pinnacles National Park, and numerous vineyards, as part of the Monterey wine region.

As of January 2025, Dutch Bros has 998 locations across 18 states in the United States. The states with Dutch Bros locations include Oregon, California, Texas, Arizona, Washington, Colorado, Idaho, Nevada, Utah, Oklahoma, New Mexico, and Tennessee.

In Q4 2024, Oregon-based Dutch Bros (NYSE: BROS) achieved a 25.9% year-over-year revenue growth, reaching $254.1 million. Company-operated shop revenues increased by 30.7% to $965.8 million for the full year.

Hanley Investment has completed the sale of 80 coffee-related retail investments in the past 48 months.

About Hanley Investment Group

Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with an over $11 billion transaction track record that specializes in the sale of retail properties nationwide. Our expertise, proven track record, and unwavering dedication to putting clients' needs first set us apart in the industry. Hanley Investment Group creates value by delivering exceptional results through the use of property-specific marketing strategies, cutting-edge technology, and local market knowledge. Our nationwide relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers are unparalleled in the industry, translating into maximum exposure and pricing for each property. With unmatched service, Hanley Investment Group has redefined the experience of selling retail investment properties.

For more information, visit www.hanleyinvestment.com.

Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Bill Asher, Executive Vice President
Email: Send Email
Phone: 949.585.7684
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/