A newly constructed, net-leased Dutch Bros retail property in Valparaiso, Indiana has been sold, with Marcus & Millichap arranging the transaction. The single-tenant asset, located at 2510 Laporte Avenue, traded for $3.12 million. The building totals 2,495 square feet and sits as a Target outlot within the Valparaiso Market Place retail center, positioning the drive-thru coffee concept within an established shopping destination.
The Dutch Bros site operates under a new 15-year absolute triple-net lease, providing the buyer with long-term, passive income backed by a corporate guaranty from Boersma Bros, LLC. The surrounding trade area includes a range of shopping options, and the property is located approximately one mile from the Valparaiso University campus, offering exposure to both local residents and university-related traffic.
Marcus & Millichap reported that the offering drew substantial interest from investors. According to Austin Weisenbeck, senior managing director investments with the firm, the marketing campaign generated multiple competitive offers. The team ultimately selected an Indiana-based buyer and completed the sale at more than 96% of the listing price, indicating that investors were willing to transact near guidance for this type of long-term, net-leased retail asset.
The property was marketed on behalf of the seller, described as a Midwest developer. The brokerage team included Weisenbeck, Sean Sharko, Adrian Mendoza and Phoebe Klein, investment specialists in Marcus & Millichap’s Chicago Oak Brook office. They worked in association with Julia Evinger, who serves as Marcus & Millichap’s Indiana broker of record. Together, the group managed the marketing and sale process for the Dutch Bros asset.
The transaction underscores ongoing investor interest in new-construction, net-leased retail positioned in established shopping corridors. With a long lease term, absolute triple-net structure and corporate guaranty, the Dutch Bros property combines durable income with a high-traffic location. The competitive bidding environment and modest discount to list price reflect sustained demand for similar single-tenant retail investments in this type of corridor.
