Future Dutch Bros. location sold

The future site of a Dutch Bros, drive-thru in Riverside has been sold for $2.8 million.

A 1,025-square-foot building is under construction on a half-acre parcel at 4990 Van Buren Blvd., according to Hanley Investment Group in Corona Del Mar.

The property, which is next to a Walmart Supercenter and a McDonald’s drive-thru, has a 15-year ground lease that stipulates a 10 percent rent increase every five years.

Hanley Investment represented the developer and the seller, Cole Valley Partners of Portland, Ore. The buyer was a private investor Long Beach whose name was not released.

“This new Dutch Bros Coffee property represents a strategic investment within Riverside in an established dense infill location,” said Bill Asher, executive vice president with Henley Investment, in a statement. “The property benefits from high traffic and excellent visibility.”

The restaurants is expected to open by the end of September, Asher said.