TUCSON, ARIZONA — Dutch Bros Coffee located at 3700 East Speedway Blvd. in Tucson sold for $2.28 million ($2,679 PSF) to a limited liability company our of Anchorage, Alaska.
The site was formerly a Hobby Town that sold for redevelopment this past September. Built on a major retail thoroughfare with 56,000 vehicles passing daily, this Dutch Bros location is equipped with a two-lane drive-thru, providing ease and convenience for customers. On average, stores with drive-thru generate higher sales than those without. The site benefits from excellent visibility via a large pylon sign and significant street frontage.
The asset is also within close proximity to a variety of national/credit tenants including Walgreens, McDonald’s, CVS, Whole Foods Market, Starbucks, and more, increasing consumer draw to the immediate trade area and promoting crossover shopping to the site.
Moreover, the site is just 2 miles north of a Walmart Supercenter anchored shopping center that includes other national/credits tenants including The Home Depot, Target, In-N-Out, and more.
In addition, the former Hobby Dutch Bros is located just 2.5 miles east of The University of Arizona, with a student enrollment population of 45,000 students, this Dutch Bros location is the closest to the University of Arizona. The University of Arizona recently ranked #117 in the 2020 edition of Best Colleges in the nation according to the U.S News. In addition, Dutch Bros is located just 4.2 miles northeast of St. Joseph’s Hospital (486 beds), an accredited pain center that has recently been recognized by the American Heart and Stoke Association. The 5-mile trade area is supported by a population of over 279,000 with an average household income of $57,000.
Patrick Luther with SRS Real Estate Partners handled the transaction.
Luther should be reached at 602. 682.6000 for additional information.
To learn more, see RED Comp #7886.