Dutch Bros

Investment Overview

15-year absolute NNN corporate ground lease with zero landlord maintenance or expense responsibilities. Positioned in the core Clemson University trade area, steps from approximately 30,000 students and a dense national retail corridor along U.S. 123 (Tiger Boulevard). Tiger Boulevard and Pinnacle Street commercial corridor — one of Clemson’s highest-traffic retail nodes — benefits from the sustained traffic generated by Clemson University and Clemson Memorial Stadium, an 81,500-seat venue averaging approximately 79,000 fans per game in 2025.

Investment Highlights

• 15-year absolute NNN corporate ground lease commenced April 2026 with zero landlord maintenance or expense responsibilities
• Corporate lease signed by Boersma Bros, LLC, the founding family entity affiliated with Dutch Bros’ corporate leadership
• The .96-acre site has a 3,723 SF double drive-thru building, renovated in 2026
• 10% rent increases every five years throughout the base term and options
• Four (4), 5-year renewal options providing a potential 35-year total lease term
• Publicly traded (NYSE: BROS) drive-thru coffee chain with record 2025 revenue of $1.64 billion, a 27.9% increase year-over-year
• Frontage on U.S. 123 (Tiger Blvd), Clemson’s primary east-west arterial, with regional connectivity to I-85