The Dutch Bros drive-through pad at Herndon and Brawley avenues has been sold. Hanley Development photo

Hanley Investment Group Real Estate Advisors, a real estate brokerage that specializes in retail property sales, announced the $4.6 million sale of the 7,502-square-foot multi-tenant retail pad in the River Oak Plaza shopping center in Northwest Fresno. 

Five tenants fully lease the retail pad – Dutch Bros Coffee, West Coast Sourdough, WaBa Grill, Sports Clips and Organic Nails and Spa. 

The building, completed in 2019, is located on Herndon and Brawley avenues, which sees 54,000 cars every day, according to the news release. 

Vice President Sean Cox and Executive Vice President Bill Asher of Hanley Investment Group represented the seller, Sonora-based California Gold Development Corporation. The buyer, a private investor based in Visalia, was represented by Vicky Casey of Casey & Associates, who is also based in Visalia.

Hanley Investment Group has sold 96 coffee-related retail properties across the U.S. in the past four years, totaling $357 million, which includes 11 Dutch Bros Coffee properties sold in the past year.

“We generated seven qualified offers in the first 45 days of marketing, ultimately securing a Central Valley-based 1031 exchange buyer on the final day of their identification period,” Cox said. “We negotiated a 30-day contingency period and timely closing, which enabled us to meet the buyer’s desired closing date and ensure a seamless transaction for both parties.” 

Dutch Bros Coffee is the drive-thru building’s anchor tenant. The popular coffee franchise operates 15 locations in the Fresno area, with plans to add six more within the next two years.  

“Multi-tenant retail pad buildings with drive-thru end caps continue to be one of the most sought-after retail investment types in today’s market,” Cox said. “This asset class will remain in high demand in 2025.”

River Oak Plaza is anchored by Tractor Supply Co., which attracts 1.3 million annual visits, according to news release. Tractor Supply opened there in 2017. Other tenants include Chipotle Mexican Grill, The Habit Burger Grill, Verizon and Goodguys Tire and Auto.