IE Business Daily Business news for the Inland Empire.
A Riverside parcel occupied by a Dutch Bros Coffee drive-thru has been sold for $2.5 million.
The 950-square-foot property is at 9604 Magnolia Ave. and has 14 years remaining on its lease, according to SRS Real Estate Partners’ Newport Beach office.
The seller in the ground lease sale was a Southern California-based developer, the buyer a Southern California-based family trust. Both parties wished to remain anonymous.
The property has access to the 91 Freeway and is near several national retailers including Walmart, and Lowe’s. More than 262,000 residents, and 72,000 workers, are within a five-mile radius of the property.
SRS has completed 29 Dutch Bros sales totaling more than $80 million during the past several months, about 35 percent of all Dutch Bros sales during that period, according to the statement.
Dallas-based SRS has 38 Dutch Bros properties either on the market or in escrow throughout the United States, according to the statement.
