Hat Trick, but Make It Commercial Real Estate

The closest I had ever come to a “hat trick” is when I threw my hat with all my might to the ice in support of William Karlsson of the Golden Knight’s on one of many hat trick accomplishments. For those that aren’t familiar with the term, I have provided a brief synopsis of the origin, where it is commonly used, and how you can achieve this accomplishment.

“Hat trick: an achievement of a generally three goals in a match, or another achievement based on the number three. The term first appeared in 1858 in cricket, to describe H.H. Stephenson taking three wickets with three consecutive deliveries. Fans held a collection for Stephenson, and presented him with a hat bought with the proceeds. Since then, the term has been adopted by other sports including: hockey, soccer, Formula 1, and water polo. Whatever it is, the way you tell your story online can make all the difference.”

— The Most Trustworthy of Sources: Wikipedia

In brokerage, I had been working hard on accomplishing what I deemed the “Hat Trick of Commercial Real Estate.”

Early in the Dutch Bros market rollout, they asked to meet with trusted local developers that were a match for their culture. Immediately, I knew to introduce them to Joe Bonifatto. Joe and I had worked together at Colliers International and while he is also a broker, development is his game. He’s fair, genuine, and if you can get past him calling certain political figures “Stromboli” he’s a lot of fun to work with. 😉

Dutch Bros and Joe were a perfect match. There is a huge advantage to having a preferred developer when working on a market roll out. They understand the economics of what the Tenant can and can not get approved. In addition, they are prepared for any construction delays, whether that be due to limited supplies, lengthy approval processes, or last-minute change orders. He has been a great asset for me with this account and part of our success is definitely owed to him. Thanks Joe!

Fast forward a few years and deals later… Dutch Bros just opened Store #18 – Craig & Home Depot in North Las Vegas, NV. Dan Adamson in our office represented the Seller of the Land. I represented Joe in the Acquisition of the land, then represented Dutch Bros in the Lease, then Joe as the Seller of the NNN Investment. The cherry on top of this “Hat Trick” is that Brian Sorrentino represented the Buyer of the Investment. Go R.O.I. Commercial Real Estate!

The Single Tenant NNN market is hot, and assets have been trading rapidly at record breaking low cap rates. We will be bringing several more Dutch Bros NNN Investments to the market within the next year.

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