New Dutch Bros | 15-Yr NNN | 17.5% Pop Growth 3819 Franklin Rd

PROPERTY HIGHLIGHTS
• Brand-new built-to-suit construction asset with Dutch Bros’ latest prototype
• Corporately guaranteed, absolute NNN lease | Zero Landlord responsibilities
• Long-term, passive investment | 15-year initial term with 10% rent increase every 5 years throughout the initial term and options, providing an excellent hedge against inflation
• Excellent access and visibility from Franklin Rd which sees ±30,425 VPD
• Located a couple blocks from Market at Victory Village, a Publix-anchored shopping center
• Dense and affluent area | There are nearly 29,000 residents with an average HH income exceeding $101,300 within a 5-minute drive
• Rapidly growing area | Population has grown 17.5% since 2020 within a 10-minute drive and is expected to grow 2.38% annually over the next 5 years
• About 1.5 miles from:
• Blackman High School | ±2,200 students
• I-24 | Nearly 116,000 VPD
• Stonetrace Commons | Kroger and Kohl’s-anchored shopping center
• A Sam’s Club-anchored shopping center
• A Kroger-anchored shopping center
• Just over 2 miles from an incredible retail corridor that includes:
• The Avenue Murfreesboro | 853,000 SF open-air shopping center anchored by DICK’S, Belk, Burlington, Best Buy, and Harvertys Furniture
• Towne Center | A Target, Lowe’s, and T.J. Maxx-anchored shopping center
• Stones River Town Centre | 671,000 SF mall anchored by JCPenney, Dillard’s, and AMC
• Market Place Center | Home Depot-anchored shopping center
• A Walmart Supercenter-anchored shopping center
• The Oaks Shopping Mall | 380,000 SF shopping mall anchored by Sportsman’s Warehouse, Ashley Store, HomeGoods, Ross, and Marshalls
• Ascension St Thomas Rutherford | 286-bed private hospital
• Murfreesboro was the 16th fastest-growing city in the U.S. in 2023, according to SmartAsset
• Asset is located in an income tax-free state
DUTCH BROS HIGHLIGHTS
• Dutch Bros is the third largest coffee chain in the US with 900+ units across 17 states with a long-term goal of hitting 4,000+ stores in the next 10-15 years
• In Q3 2024, total revenues grew 28% y-o-y to a record $338MM
• Expects to open at least 150-165 locations in 2024
• Has opened at least 30 stores in 13 consecutive quarters
• Dutch Bros holds an AUV of $2MM (2023)
• Dutch Bros (NYSE: BROS) went public in 2021 and holds a market cap of $8B as of 11/20/24
• Held the highest AUV in the QSR Magazine’s “snack segment” at just under $2MM in 2023, beating out the likes of Starbucks,
Dunkin’, 7 Brew Coffee, among others
• 3rd most popular restaurant chain in the U.S. in 2024, according to Nation’s Restaurant News
• #33 on QSR Magazine’s QSR Top 50 rankings
• #48 on Technomic’s 2024 Top 500 Chain Restaurant Report