DUTCH BROS. GROUND LEASE INVESTMENT - 4173 RIVERDALE ROAD RIVERDALE, UTAH 84405 - *Not Subject Property - Mountain ...
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*Not Subject Property
DUTCH BROS.
GROUND LEASE INVESTMENT
BRIEONA PAPPAS BEN BROWN
4173 RIVERDALE ROAD bpappas@mtnwest.com bbrown@mtnwest.com
direct 801.704.1666 direct 801.456.8802
RIVERDALE, UTAH 84405 View Profile View Profile
TABLE
OF CONTENTS
4 EXECUTIVE
SUMMARY &
HIGHLIGHTS
5 SITE PLAN
PROPERTY
6 FEATURES
7 DEMOGRAPHICS
8 AREA OVERVIEW
9 TT MAP
10 TENANT PROFILE
12 WHY UTAH
14 2021 OUTLOOK
DUTCH BROS. COFFEE - RIVERDALE
2 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com *Not Subject Property
DUTCH BROS.
INVESTMENT CONFIDENTIALITY AND DISCLOSURE
4173 RIVERDALE ROAD Mountain West Commercial Real Estate has been retained on an exclusive basis to market the property
RIVERDALE, UTAH 84405 described as 4173 Riverdale Road, Riverdale, Utah 84405. Broker has been authorized by seller of
the property to prepare and distribute the enclosed information for the purpose of soliciting offers
to purchase from interested parties. More detailed financial, title and tenant lease information may
PREPARED BY be made available upon request following the mutual execution of a letter of intent or contract to
purchase between the Seller and the prospective purchaser. You are invited to review this opportunity
BRIEONA PAPPAS and make an offer to purchase based upon your analysis. If your offer results in the Seller choosing to
bpappas@mtnwest.com open negotiations with you, you will be asked to provide financial references. The eventual purchaser
direct 801.704.1666
will be chosen based upon an assessment of price, terms, ability to close the transaction and such
View Profile
other matters as the Seller deems appropriate.
BEN BROWN The Material is intended solely for the purpose of soliciting expressions of interest from qualified
bbrown@mtnwest.com
investors for the acquisition of the Property. The Material is not to be copied and /or used for any
direct 801.456.8802
View Profile other purpose or made available to any other person without the express written consent of Broker
or Seller. The Material does not purport to be all-inclusive or to contain all of the information that a
prospective buyer may require. The information contained in the material has been obtained from the
Seller and other sources and has not been verified by the Seller or its affiliates, agents, representatives,
employees, parents, subsidiaries, members, managers, partners, shareholders, directors, or officers,
makes any representation or warranty regarding such pro forma. Purchaser must make its own
investigation of the Property and any existing or available financing, and must independently confirm
the accuracy of the projections contained in the pro forma.
Seller reserves the right, for any reason, to withdraw the Property from the Market. Seller has no
obligation, express or implied, to accept any offer. Further, Seller has no obligation to sell the Property
unless and until the Seller executes and delivers a signed agreement of purchase and sale on terms
acceptable to the Seller, in its sole discretion. By submitting an offer, a purchaser will be deemed
to have acknowledged the foregoing and agreed to release Seller and Broker from any liability with
respect thereto.
Property walk-throughs are to be conducted by appointment only. Contact Broker for additional
information.
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 3
EXECUTIVE SUMMARY & HIGHLIGHTS
OVERVIEW
Mountain West is proud to present the opportunity to acquire a newly construction Dutch Bros Ground
EXECUTIVE SUMMARY Lease located in Riverdale, Utah. The brand new 15-year NNN ground lease, which is expected to
commence November 1, 2021, features rent increases of 10% every five years, with three automatic five-
TENANT TRADE NAME Dutch Bros. Coffee year renewal options each consisting of 10% increases. The initial 15-year lease has a corporate guarantee
Boersma Bros, LLC with strong financials. The property is located within Weber County, Utah’s 5th largest County, and is less
LEASE GUARANTOR than 30 minutes out of Salt Lake City and the Salt Lake City International Airport. Right off of Riverdale
-Corporate Guaranty
Road and surrounded by major retailers drawing additional clientele to the site. This property gives a
LEASE TYPE Absolute NNN
potential investor the ability to have a strong stable low maintenance asset located in one of the fastest
PURCHASE PRICE $1,482,353 growing states in Nation.
NET OPERATING INCOME $63,000 BRAND NEW LONG-TERM CORPORATE GUARANTEED LEASE
Dutch Bro’s recently signed a brand new 15-year lease with 10% escalations every 5-years and three
CAP RATE 4.25% automatic 5-year renewal options. The initial 15-year term has a strong corporate guarantee from
Boersma Bros, LLC.
LEASE INFORMATION
15 Yrs following Rent PROJECTED RENT COMMENCEMENT
EXPIRATION The rent is expected to commence November 1, 2021.
Commencement Date
GROUND LEASE TERM 15 Years LOCATION
Located right off of Riverdale Road within the Riverdale North Shopping center next to other strong
LEASE TERM REMAINING 15 Years national tenants including Lowe’s, JCPenny, Petco, Old Navy, Michaels and more.
RENTAL INCREASES 10% Every 5-Years PROVEN SALES VOLUME (2018)
EXTENSION OPTIONS Three, 5-Year Proven sales by neighboring tenants: Del Taco $1,249,000; Texas Road House $4,990,000; Costa Vida
$1,120,000; Chick-fil-A $6,889,000 (currently expanding in the market); Burger King $910,880; Café Rio
TENANT'S FIRST RIGHT OF $1,995,000.
Yes
REFUSAL
TENANT RESPONSIBILITIES - ABSOLUTE NNN
PROPERTY TAXES Tenant Responsible
Tenant is responsible to maintain their utility connections, conduits, sewer drains, Tenant Improvements,
INSURANCE Tenant Responsible HVAC system and their common area space including: pavement, asphalt, sidewalks, surrounding parking,
traffic lane stripping, landscaping, and building.
UTILITES Tenant Responsible
MAINTENANCE Tenant Responsible OPTIONS & ESCALATIONS
MONTHLY ANNUAL
PROPERTY INFORMATION LEASE TERM START EXPIRATION
RENT RENT
RENT/SF % INCREASE
4173 Riverdale Road, INITIAL TERM 11/1/2021 10/31/2026 $5,250.00 $63,000.00 $2.11
PROPERTY ADDRESS
Riverdale, Utah 84405
INITIAL TERM 11/1/2026 10/31/2031 $5,775.00 $69,300.00 $2.33 10.00%
GROSS LEASABLE AREA (SF) 29,800
INITIAL TERM 11/1/2031 10/31/2036 $6,352.50 $76,230.00 $2.56 10.00%
LAND SIZE (AC) 0.66
OPTION 1 11/2/2036 10/31/2041 $6,987.75 $83,853.00 $2.81 10.00%
YEAR BUILT 2021
OPTION 2 11/1/2041 10/31/2046 $7,686.53 $92,238.30 $3.10 10.00%
OPTION 3 11/1/2046 10/31/2051 $8,455.18 $101,462.13 $3.40 10.00%
DUTCH BROS. COFFEE - RIVERDALE
4 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
SITE PLAN
A
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 5
PROPERTY FEATURES & LAND OVERVIEW
PROPERTY FEATURES
Location Daytime Traffic
4173 Riverdale Road Over 52,000 Employees within 3
Riverdale, Utah 84405 Miles
Property Description Strong Retail Trade Area
The subject property consists Riverdale is arguably the best
of one retail building totaling retail corridor on bother Weber &
approximately 29,800 sf of gross Davis Counties. Riverdale Road
leasable area extends from I-15 to Hwy 89 and
Access is approximately 4 miles long. It
Full Access/Visibility from Riverdale has some of the largest retailers
Road generating one of the highest’s
sales volumes among each retailers
Traffic Counts Utah Stores. These retailers include:
Riverdale Road 54,673cars/day Walmart, Sam’s Club, Target, At
Over 55,000 ADT on Riverdale Road Home, Sears, RCWilley, Best Buy,
Ross, JoAnns, Staples, Home Depot,
Lowes, Sportsman’s Warehouse,
TJMaxx, JCPenny, Costco and more.
LAND OVERVIEW
APN # ADDRESS ACRES SF
062740002 4173 Riverdale Rd 0.66 29,800
Photo Source: www./jeffreyfavero.com/
DUTCH BROS. COFFEE - RIVERDALE
6 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
DEMOGRAPHICS
POPULATION BUFFERS - 1, 3, 5 MILES
H arrisvil l e
1 MILE 3 MILES 5 MILES
10,626 84,392 170,702 M a rri ott-Sl a tervi l l e
2020 EST. 2020 EST. 2020 EST. 5 M il es
POPULATION POPULATION POPULATION
1 MILE 3 MILES 5 MILES
11,680 92,838 186,408 3 M il es
2025 EST. 2025 EST. 2025 EST. Og d en
POPULATION POPULATION POPULATION
UN
NER &
'
%15
West H a ven
TR
1 M il e
ON
FR
HOUSEHOLDS & MEDIAN INCOME
,
+ 89
1 MILE 3 MILES 5 MILES H oop er R i verd a l e
3,807 31,732 61,766 R oy Wash in g ton Sou th
2020 EST. 2020 EST. 2020 EST. Terrace Og d en
HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS
&
'
% 84
1 MILE 3 MILES 5 MILES U i n ta h
$57,913 $56,716 $62,853 Cl i n ton Su n set
2020 EST. 2020 EST. 2020 EST. Sou th Web er
INCOME INCOME INCOME
West P oi n t
Cl ea rfiel d
Syra cu se La yton
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 7
AREA OVERVIEW
WEBER STATE UNIVERSITY
The subject property is located within 2.4 miles of Weber State University, with an
enrollment of 26,681 students and 820 administrative staff. Weber State University
offers more than 250 certificate and degree programs in the performing arts, visual
arts, humanities, science, applied science and technology, business and economics,
education, social and behavioral sciences, and the health professions. Master’s degrees
are offered in accounting, athletic training, business administration (MBA), professional
communication, computer engineering, criminal justice, education, English, radiologic
sciences, health administration, nursing, and taxation.
NEAR MAJOR SKI RESORT
Riverdale is 24-miles away from the famous Snowbasin Resort. The resort opened back
in 1939 as part of an effort by the city of Ogden to restore the Wheeler Creek watershed
and is one of the oldest continually operating ski resorts in the United States. During
the 2002 Winter Olympics, Snowbasin hosted the downhill, combined (downhill and
slalom), and super-G events.
PROXIMITY TO HILL AIR FORCE BASE
Hill Air Force Base is the 6th largest employer in Utah, excluding the state government
and higher education employers. There are 27,365 total personnel within Hill Air Force
Base, including 5,636 military, 5,591 military dependents and 16,138 civilians. Hill Air
Force Base has an annual federal payroll of $1.34 billion, and annual expenditures of
$710 million. Annually, Hill Air Force Base creates approximately $1.29 billion in jobs
created with a total of $3.34 billion in total annual economic impact.
OGDEN HINKLEY AIRPORT
Ogden-Hinckley Airport (OGD) is a municipal airport with commercial flights, general
aviation service, and affordable, high-quality space for other aviation and aerospace
uses. Ogden-Hinckley Airport hosts operations for several aerospace and defense
companies, including Northrop Grumman, Williams International, and Boresight.
Ogden is home to a growing aerospace and advanced manufacturing cluster, and our
airport shares airspace with nearby Hill Air Force Base. Existing hangars and build-to-
suit options at the Kemp Ogden Gateway Center make Ogden-Hinckley Airport an
ideal location for aviation and aerospace companies.
Photo Source: visitogden.com
DUTCH BROS. COFFEE - RIVERDALE
8 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com
!
TT MAP
791 ADT
2,436 ADT
ST
DT
EP
6A
HE
NS
,47
575
AV
10
36TH ST 229
11,823 ADT 36TH ST 18,986 ADT
E
W
213 253 16,551 ADT
LINCOLN AVE
16,790 ADT WALL AVE
35 50 S
3600 S
1,794 ADT
DT
2A
37TH ST
,83
3650 S
12
KIESEL AVE
OGDEN AVE
3700 S
11,268 A VILLA SOUTH
IE W C I R
State D APARTMENTS !
120 UNITS
W
Liq u ore
T
Store
250
WASHINGTON BLVD
ES V
215
38TH ST
IM
CH
SYLVIA DR
GRANT AVE
LEONA DR
CHILDS AVE
218
DIANA ST
CH
3950 IM
S ES 39TH ST
VIE
ADAMS AVE
W
4000 S DR
,
+ 89
DR
PACIFIC AVE
ERM
2 6,295 ADT 40TH ST
PAL
217 254 19,871 ADT 1387
GR
29,945 ADT
W
EN
OO
D CIR
HI
30 LL
0W CR
ES
T CIR
YALE DR
212
RD
SI TE 16
,36
E
AL
6A 41ST ST
RD
D
VE
GIBBS CIR
GREENHILL AT OU
T
RI
0S N TRY CLU B D
C
RIVERDALE 415
R
2,712 ADT
!
104 UNITS
0 5 00 W
430
S
42ND ST
60
0W
1447
R
I V ERWA LK DR 550 W
D 4300 S
T
A
,6 73 4400 S 255
54 T
350 S
AD
4
375
250
OAK DR
88
E
225
133
6,2
Y DR
E
17
CHERR
E
5E
UNITS
!
325
E
150
0E
ANCHOR TENANT PROFILE
Dutch Bros Coffee was founded in 1992 by Dane and Travis Boersma, private equity firm focused exclusively on the branded consumer sector,
brothers of Dutch descent. After three generations in the dairy business, today announced that TSG has acquired a minority stake in Dutch Bros
government regulations pressed the family to sell the cows. What felt Coffee. The partnership will enable Dutch Bros to expand its unique brand
devastating turned out to be a blessing in disguise. and Dutch Luv culture to new markets, leveraging TSG’s expertise and
The bros bought a double-head espresso machine, threw open the barn resources. Dutch Bros hopes to grow to 800 shops in five years, continue
doors and started experimenting with just 100 pounds of beans and a attracting key talent, employ innovative technology to improve the quality
rockin’ stereo. They set up a pushcart on the railroad tracks and started of service, use business intelligence and data to advance operations, and
passing out samples to anyone who would brave the new brew, and, within execute a disciplined brand strategy.
a month, they knew they had something special.
“One of the most rewarding things in this change of occupation was going ESTABLISHED: 1992
from smelling cow manure to smelling coffee,” said Dane. “You’d open LOCATIONS: 322
the bag, and it was like heaven.” Today, Dutch Bros Coffee is the country’s
largest, privately held drive-thru coffee company, with over 318 locations EMPLOYEES: 9,000
in seven states and over 7,500 employees. But growth hasn’t taken the HEADQUARTERS: Grants Pass, Oregon
company away from its roots. Dutch Bros still gives away drinks — now
COMPANY: Privately Held
over one million each year — to further the bros.’ mission of “spreading
the Dutch Luv.” WEBSITE: Dutchbros.com
The company donates over $2 million a year to its local communities and
nonprofit organizations, including the Muscular Dystrophy Association, in
honor of Dane, who passed away in 2009 after a four-year battle with Lou
Gehrig’s disease. With its loyal customer base dubbed the Dutch Mafia,
Dutch Bros Coffee continues to grow, and, wherever it does, the love,
donations and smiles grow also. TSG Consumer Partners (“TSG”), a leading
DUTCH BROS. COFFEE - RIVERDALE
10 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.comUtah
Idaho
Arizona
Nebraska
Mississippi
Texas
South Dakota
-18,900 ( -12.3%)
Alabama
U.S.
Source: 2021 Economic Report to the Governor by the Utah Economic Council
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 11WHY UTAH?
• Utah Metros in Top 10 Milken List.
Provo-Orem #1, Salt Lake City #4, Ogden-Clearfield #9. (2/21)
• Utah in the 2020 Business Facilities State Rankings. (1/21)
• St. George #3 on Small Cities to Work From Home List. (9/2020)
• Ogden Named a Top 20 City for Manufacturing. (9/2020)
• Utah Best State in Mountain Region for Workforce Development (1/2020)
• 10 Categories Where Utah Claims #1 (best private-sector job growth, best state for entrepreneurs,
best performing large system, best state for upward mobility, best state for the middle class, number of dark sky
parks, children per capita, densest concentration of Jurassic-era dinosaur bones, tallest mountain peaks, Most
volunteers) (9/2019)
Source: EDCUtah
#1 BEST STATE FOR #3 BEST STATE
ENTREPRENEURS FOR BUSINESS
2019 2019
#1 BEST #2 BEST STATE TO
ECONOMY START A BUSINESS
10/2020 2019
Source: Utah Governor’s Office of Economic DevelopmentJOB GROWTH POPULATION GROWTH
3.3%
UTAH
16%
UTAH source: EDCUtah
1.5%
NATIONAL
6.3%
NATIONAL
DWS, NOV 2019 US CENSUS, 2010-2019
MEDIAN WAGE MEDIAN AGE
$36,790
UTAH
31
UTAH
$38,640
NATIONAL
38.2
NATIONAL
BLS, MAY 2018 US CENSUS, ACS 2018
COST OF LIVING INDEX % BUDGET SPENT ON EDUCATION
101.3
UTAH
40%
UTAH
100.0
NATIONAL
29%
NATIONAL
C2ER, Q3 2019 US CENSUS, 2015
CORPORATE TAX GDP GROWTH
4.95%
UTAH
3.2%
UTAH
6.87%
NATIONAL
1.9%
NATIONAL
TAX FOUNDATION, 2019 BEA, Q3 2019
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 13
Source: EDCUtah2021: POISED FOR A STRONG RECOVERY
“Utah’s decade long expansion, the longest on record, ended in 2020 with the emergence of
COVID-19. The public health crisis presented the greatest challenge to the Utah economy since the
Great Recession. In the early spring, the forecast for 2020 was bleak as the unemployment rate in
April climbed to roughly 10%. But as the year unfolded, the resiliency of the Utah economy was on full
display. By November, Utah’s year-over employment was down -0.2%, one of the smallest employment
declines of any state, and the unemployment rate had dropped to 4.3%. Nationwide employment was
-6.0% and the unemployment rate was 6.7%. Although the job market in Utah has fared better than in
any other state, not all industries escaped the impact of COVID-19.
Tourism has been hard hit, with national park visits down 32%. Bryce Canyon suffered the worst decline
with a drop of 32% in visitations. Third-quarter data for accommodations services (hotels and motels)
show a drop of 22% in lodging. Restaurants and fast food establishments have also been hurt, but the
impact appears to be less than expected. Take-out and delivery have given some buffer to sit-down
restaurants. Retail sales activity overall has been surprisingly strong. The 2020 forecast for taxable
retail sales shows an increase of 13.3%, with building and garden establishments and grocery stores
particularly strong.
Utah exports in 2020 are forecast to reach $17.6 billion, the third-highest year on record. Notably,
the value of other export commodities (excludes gold) at $8.7 billion will be the highest ever, with
electronics and agricultural products among Utah’s major export products. The forecast for residential
construction shows a record of 30,745 dwelling units, surpassing the previous record high of 28,285 in
2005. The value of residential construction will top $6.3 billion. The housing boom in apartments and
condominiums continues, and single-family construction will have the best year since 2006. Housing
demand has not slowed with COVID-19, as historically low mortgage rates attract buyers to the
market. The strong demand has pushed up housing prices. The median sales price of a single-family
home in Utah will be up by 11% to $385,000 in 2020. The construction boom includes nonresidential
construction with $2.3 billion in value in 2020. The total value of permit authorized construction
(residential, nonresidential, and additions, alteration and repairs) will be $10.3 billion in 2020, a record
year as well.
While the public health crisis has been tragic, the impact of the pandemic on the Utah economy has
been much milder than initially expected. And a strong recovery is forecast for 2021, with employment
increasing by 58,000 jobs, which would be the largest single-year increase in employment in Utah’s
history.”
Source: 2021 Economic Report to the Governor by the Utah Economic Council
DUTCH BROS. COFFEE - RIVERDALE
14 Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020*
* 2020 national park visits are estimated. 2020 skier days will be released in June 2020. Skier days include the season that begins with the year shown
(e.g., 2019 = 2019–2020 ski season).
Source: U.S. National Park Service and Ski Utah
HACHMAN INDEX OF ECONOMIC DIVERSITY
Hachman index of Diversity
2019
According to the Hachman
Index, a measure of economic
diversity, Utah and Missouri Mining led - 700 (- 7.2%) $20 $19.0 $19.3 Gold All Other Commodities 90.9
OR
the nation in economic diversity
Construction OR5,900 (5.4%)
MN
93.8
$17.3 $17.6
$16.1
in 2018 with scoresManufacturing
of 97.1 and 93.1
- 1,400 (- 1%) WI
$15 $14.4
96.8, respectively, based on
Trade, Trans., Utilities - 2,900 ( - 1%)
91.2
$13.3
$12.2 MI $12.1 $11.6
gross domestic product by
Information - 1,200 (- 3%)
91.3 PA
95.4
industry. A higher score, closer $10 OH
Financial Activity 3,300 (3.6%) UT
IL
93.2
to 100, indicates more economic 97.3 CO
95.6
Professional & Business Services 600 (0.3%)
diversity. A timely example CA 93.8 KS MO
Education & Health Services
2020: Historically challenging year 2021: Poised for a strong recovery
90.7
- 1,000
92.7 ( - 0.5%) $5
96.7
of the advantage of diversity NC
Leisure & Hospitality -18,900 ( - 12.3%) AZ
TN 93.8
is the impact of globalization 96.1
92.4 SC
Other Services - 1,400 ( - 3.4%)
and tariffs on state economies. $0 AL GA
90.1
Government - 4,400 ( - 1.7%) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020e
Those states with employment 90.3 96.5
Utah exports in 2020 are forecast to reach $17.6 billion, the prices. The median sales price of a single-family home in Utah
concentrations in auto, textiles,
third-highest year on record. Notably, the value of other export will be up by 11% to $385,000 in 2020. The construction boom
or steel production experienced
commodities
severe (excludes
job losses. gold) at $8.7 billion will be the highest includes
$12,000 nonresidential construction with92.1 $2.3 billion in value in
FL
Mining - 700 (- 7.2%) $20 80,000
$19.0 $19.3 In contrast,
Net Migration
Gold All Other Commodities Residential Nonresidential
ever, with electronics
Utah’s economic diversity and
Natural agricultural
Increase products among Utah’s
$17.3 $17.6 2020. The total value of permit authorized construction (residential,
nstruction 5,900 (5.4%) Population Change $10,000 Additions/Alterations/Repairs Total Value
major export
60,000 $16.1 The forecast for residential construction
products. nonresidential, and additions, alteration and repairs) will be $10.3
ufacturing - 1,400 (- 1%) provided added protection from
$14.4the previous
ns., Utilities - 2,900 ( - 1%) theshows
$15 a record
negative of 30,745
impacts dwelling
of tariffs. $13.3 units, surpassing billion
$8,000in 2020, a record year as well.
Source: Kem C. Gardner Policy Institute analysis of U.S. Bureau of Economic Analysis GDP data
record high of 28,285 in$12.2
40,000 $12.1 of
2005. The value residential construction
$11.6 While the public health crisis has been tragic, the impact of
nformation - 1,200 (- 3%) $6,000
will
$10 top $6.3 billion. The housing boom inxapartments
viii
and
2021 ECONOMIC
the pandemic on the Utah economy has been much milder than
REPORT TO THE GOVERNOR
ial Activity 3,300 (3.6%) 20,000
condominiums continues, and single-family construction will initially
$4,000 expected. And a strong recovery is forecast for 2021, with
ss Services 600 (0.3%)
have the0best year since 2006. Housing demand has not slowed employment increasing by 58,000 jobs, which would be the largest
th Services - 1,000 ( - 0.5%) $5 COVID-19, as historically low mortgage rates attract buyers $2,000
with single-year increase in employment in Utah’s history.
Hospitality -18,900 ( - 12.3%)
er Services - 1,400 ( - 3.4%)
to the
UTAH market.
VALUE
-20,000 The strong
OF demand
NEWhas pushed up housing
CONSTRUCTION, UTAH$0
NATIONAL PARK AND SKIER
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
$0
overnment - 4,400 ( - 1.7%) $ MILLIONS
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020e VISITS, MILLIONS
Utah Value of New Construction, $ millions Utah National Park and Skier Visits, millions
8.0% 2.6% long-term average 12
$12,000 National Park Visits
Migration Residential Nonresidential
ural Increase 6.0% Skier Days
Additions/Alterations/Repairs Total Value 10
ulation Change $10,000
4.0%
8
$8,000
2.0%
6
$6,000
0.0%
4
-2.0%
$4,000
2
-4.0%
$2,000
0
-6.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020*
$0
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
* 2020 national park visits are estimated. 2020 skier days will be released in June 2020.
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
Skier days include the season that begins with the year shown
(e.g., 2019 = 2019–2020 ski season).
-1.0% Utah Source: U.S. National Park Service and Ski Utah
Source: 2021 Economic Report to the Governor by the Utah Economic Council
ong-term average 12
-1.1% Idaho
Mountain West Commercial | Office 801.456.8800 | www.mtnwest.com 15
National Park Visits -2.2% ArizonaDUTCH BROS.
COFFEE -
RIVERDALE
4173 RIVERDALE ROAD
RIVERDALE, UTAH 84405
PREPARED BY
BRIEONA PAPPAS
bpappas@mtnwest.com
direct 801.704.1666
View Profile
BEN BROWN
bbrown@mtnwest.com
direct 801.456.8802
View Profile
312 East South Temple, Salt Lake City, UT 84111
Office 801.456.8800 | www.mtnwest.com *Not Subject PropertyYou can also read
