Houston, July 7, 2022 – Colliers is pleased to announce the sale of Dutch Bros Coffee ground lease located at 9415 Barker Cypress Road in Cypress, Texas. The buyer, a 1031 Exchange investor out of California, was represented by Brendan Kenevan of The Mansour Group. Todd Moore and Connor Duffy of Colliers represented the seller, CC TL Parkway, in the transaction.
The property is on a long-term ground lease and is located next to Lone Star College in the high-growth submarket of Cypress, Texas.
“We received multiple offers on this property within days of launching it to the market,” said Todd Moore, Principal of Colliers. “Dutch Bros is expanding nationally and investors have been aggressively seeking these out as long-term investments. There were multiple competing Dutch Bros on the market when we launched this process, and this location attracted attention from a solid pool of buyers. We are extremely pleased to have completed this transaction on behalf of our client.”
Dutch Bros Coffee is a coffee chain based out of Oregon with both company-owned locations and franchises throughout the United States. It was started in 1992 as a pushcart to serve fantastic coffee beverages and make connections within the community.
The property is located in Houston’s Bridgeland retail submarket. The submarket contains 4.7 million square feet of retail space which is currently 96.6 percent occupied. 39,100 square feet of new retail delivered in the last 12 months and there are 66,000 square feet of retail space currently under construction in the submarket.
|For further information please contact:|
Todd Moore | Principal, Houston +1 713 830 2191