Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 17,280-square-foot, multi-tenant retail center located in Lubbock, Texas. The center is 100 percent occupied with a master lease, with all triple-net leases. The property provides a complimentary mix of retail tenants including restaurants and service-oriented businesses. Lubbock Plaza is located just off the signalized intersection of 4th Street and Frankford Avenue and just west of Loop 289. The traffic counts around the property are strong and exceed 29,000 vehicles per day on Frankford Avenue and 17,000 on 4th Street. The subject property is an out parcel to one of the top-performing Walmart Supercenters in Texas. It ranks in the 93rd percentile in the United States for annual visitors, which is reported at over 3 million a year (Source: Placer Labs Inc.). Other surrounding retailers include Bahama Buck's, Sonic, AT&T, Wendy's, Taco Bell, Chick-Fil-A, Slim Chickens, Dollar Tree, Spec's, Whataburger, Sonic Drive-In, and many others. Lubbock Plaza is located just 4 miles away from Texas Tech University, Texas Tech University Health Sciences Center, and University Medical Center, the primary teaching hospital for the Health Sciences Center. The University enrolls more than 40,700 undergraduate and graduate students. The sixth-largest college in the state, they are the largest economic driver in the region, providing population and employment stability. The city of Lubbock is the county seat of Lubbock County and nicknamed the "Hub City", derived from it serving as the economic, educational, and healthcare hub of the multicounty region of northern Texas known as the South Plains. Besides being home to Texas Tech University, Lubbock is also home to several other college campuses, including Lubbock Christian University, South Plains College, and Wayland Baptist University. Air service to the city is provided by Lubbock Preston Smith International Airport, serving approximately 520,000 passengers annually.