Dutch Bros (NYSE: BROS) | Greenville MSA

Investment Overview

Trinity Partners is proud to serve as exclusive advisor to ownership and offer the marketplace this net lease retail investment opportunity in Mauldin, South Carolina (Greenville MSA). Dutch Bros (NYSE: BROS) is a rapidly expanding leader in the drive-thru beverage sector with over 1,200 locations across the U.S. and is projected to hit 2,000 stores in the next 4 years. The Property is developed along one of the highest traffic corridors in the Upstate (47,600+ VPD) at a high-profile signalized intersection. The site includes a 950 SF building with double drive-thru lanes, 10 total parking spaces, and multiple access points. The 15-year NNN lease commenced in March 2026, features a corporate guaranty, 10% rent bumps every 5 years, multiple 5-year renewal options, and ZERO landlord responsibilities.

Investment Highlights

• NEW CONSTRUCTION: Project broke ground in October 2025 and was completed in March 2026
• LONG-TERM NET LEASE: 15-year absolute NNN lease with 3 renewal options of 5 years each and ZERO landlord responsibility
• RENTAL UPSIDE: 10% rent bumps every 5 years including option periods
• NATIONAL BRAND: 1,200+ locations across 25 states (2,029 projected by 2029) with average unit sales volume of $2.1M
• CREDIT TENANT / CORPORATE GUARANTY: Dutch Bros, Inc. (NYSE: BROS) reported total revenues of $1.64B in 2025 with a 2026 projection of $2B
• RECORD 2025 RESULTS: 28% revenue growth over 2024 and 19 consecutive years of positive same-shop sales growth
• HIGH TRAFFIC CORRIDOR: Traffic Counts of 47,600+ VPD directly in front of the property
• STRONG TRADE AREA: Immediate trade area consists of 1.4 million SF of retail space that is 99.3% leased
• DENSE RESIDENTIAL BASE: Over 58,200 households and 137,700 residents within a 5-mile radius
• AFFLUENT DEMOGRAPHICS: $122,700 average HH income and $88,200 median HH income within a 5-mile radius
• DYNAMIC GROWTH REGION: Anchored by Greenville, the Upstate is a 10-county region with approx. 1.67 million residents, 580 international companies, and a net migration of more than 80 people each day