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California  + Inland Empire  + Net Lease  | 

SRS Arranges Ground Lease Sale of STNL Dutch Bros.

SRS Real Estate Partners has completed the $2.765-million ground lease sale of a single-tenant net-leased Dutch Bros. Coffee property located at 4236 N. Varsity Ave. in San Bernardino. The transaction closed at a 4.52% cap rate, representing one of the lowest cap rates for a Dutch Bros. STNL property nationwide this year, according to SRS.

Senior managing principals Patrick Luther and Matthew Mousavi represented the seller, an affiliate of Paragon Commercial Group. The buyer was a private California investor completing a 1031 exchange and was represented by JT Real Estate Group. 

“This Dutch Bros. offered a brand-new, corporate-guaranteed ground lease with zero landlord responsibilities in a high-traffic, densely populated trade area directly off Interstate 215 and near a state university,” said Luther.

The lease includes options to extend, with the tenant responsible for all expenses, providing an ideal management-free investment for passive investors.

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Inside The Story

SRS Real Estate's Luther

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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