Dutch Bros Coffee - Bartlesville, OK
New Dutch Bros Coffee Build-to-Suit Adjacent to Walmart Supercenter
Marketing description
Porthaven Partners has been exclusively selected to market an
opportunity to acquire a newly constructed, 980 SF Drive Thru Facility
leased by Dutch Bros. This brand-new build-to-suit facility is located in
Bartlesville, OK, just north of the Tulsa MSA. Dutch Bros. will be leasing
the build-to-suit property for a term of 15 years with 10% bumps every
5 years.
For fiscal year 2024, Dutch Bros reported approximately $1.28
billion in total revenue, representing strong 32.6% year-over-year
growth from FY 2023, and extending a multi-year track record of
outsized top-line expansion. Since 2019, Dutch Bros has grown
revenue from approximately $238 million to ~$1.28 billion, equating
to a ~40% compound annual growth rate over the period — among
the highest growth trajectories in the QSR and beverage sectors.
Strategically located along the main retail corridor of Bartlesville,
OK, the property sits along side new other new developments on
either side and benefits from great visibility by seeing approximately
21,000 VPD. The Dutch Bros drive-thru, being the first and only in
Bartlesville, draws from a large customer base with over 33,000
residents in a 3-mile radius and an average household income of
almost $80,000. The properties' location also draws from Oklahoma
Wesleyan University, an 848-student private university, as well as
Ascension St. John Medical center, a 133-bed facility offering 24/7
emergency care, general medicine, and surgery.
Investment highlights
New Long-Term 15-Year Absolute NNN Lease
The Property represents brand new 2026 construction and is leased to Dutch Bros Coffee under a
brand-new 15-year Absolute NNN lease, providing investors with long-term, predictable cash flow
and zero landlord responsibilities, resulting in truly passive ownership
Brand New Construction w/Double Drive-Thru
The Property represents brand new 2026 construction with Dutch Bros most recent prototype and
double drive thru concept. The double drive-thru allows Dutch Bros to serve a high volume of
customers quickly and efficiently.
Strong Contractual Rent Increases
The Lease includes 10% rental increases every 5 years. Given the 15-year
term, there are two scheduled rental increases in the base lease term, which provides a superior
boost to yield and hedge against inflation compared to competing QSRs with a shorter lease.
Corporate Guaranty from High-Growth QSR Concept
Lease is corporately guaranteed by Boersma Bros., LLC, a wholly owned subsidiary and main
operating entity of Dutch Bros Inc. (NYSE: BROS) — one of the fastest-growing drive-thru coffee brands
in the U.S. Dutch Bros reported $1.28B in Revenue in its most recent fiscal year, reflecting strong yearover-
year growth of 32.6%, and has expanded from $238M in Revenue in 2019 to ~$1.28B in FY’24,
equating to a ~40% compound annual growth rate over that period. Today the company operates
1,080+ locations nationwide and is targeting another ~175+ new stores in 2026 with a target of 2,029
units by 2029. This robust growth trajectory supports long-term brand relevance and tenant credit
stability.
Strategically Located Near Walmart Supercenter
The Property is positioned within Bartlesville’s dominant retail corridor, adjacent to Walmart
Supercenter and surrounded by national retailers. Walmart serves as the primary daily-needs anchor
for the trade area, generating consistent traffic throughout the day and week.
Stable Population & Regional Growth – Bartlesville / Tulsa MSA
Bartlesville serves as the primary retail hub for Washington County, with a metro population of
~52,900 residents (2023) and steady income growth (~3% YoY) supporting consistent daily-needs
retail demand. Over the past decade, the trade area has recorded ~5% population growth,
reflecting gradual but durable expansion. The Tulsa MSA has grown by ~4.1% since 2017, adding
~40,000 residents, and represents a $57.7B regional economy anchored by energy, aerospace,
manufacturing, healthcare, and professional services. The diverse employment base, lower cost of
living, and regional migration reinforces Bartlesville’s role as a stable retail market.
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