IE Business Daily Business news for the Inland Empire.
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.
Make one in the down town area in Riverside