4304 W Loop 2894304 West Loop 289 4304 West Loop 289, Lubbock, TX, 79407-3730, US

At Home - Lubbock, TX

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the 140,231 SF retail asset located at 4304 West Loop 289 in Lubbock, TX (the “Property” or “Asset”). The Property is fully leased by At Home Décor Superstore (“At Home” the “Tenant”) and currently has 7-years of lease term remaining, subject to 2.0% annual increases. Per Placer. Ai's annual visitor data, this location is within the top 10% of all At Home locations nationally and within the top 3% in the state of Texas.

The Property is ideally situated just off Highway 289 along West Loop 289, a highly trafficked retail corridor (73,285 VPD) in the heart of Lubbock, TX. The Lubbock MSA is the largest in West Texas with an estimated population of 319,000 and serves the area with top-quality medical care and educational institutions. Texas Tech University is located less than 5-miles from the Asset and has an undergraduate enrollment of +40,000 students. The Property is directly adjacent to the Canyon West Shopping Mall, which houses nationally recognized retail tenants including Sam’s Club (2.2M Annual Visits), Pet Smart, Burlington, Target, Office Depot, Qdoba and Ulta Beauty. Retailers to the north of the asset: Best Buy, Walmart, Nike, Cabela's, and Costco.

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Attributes

Asking Price

€11,550,000

Building area Net

13,028 m²

Occupancy

100.00%

Year built

1985

Cap Rate

6.65%

NOI

€769,000

Media

Investment Highlights

NNN lease offering with 7-years of primary term remaining and subject to 2.00% annual increases
Per Placer.Ai's annual visitor data, this location is within the top 10% of all At Home locations nationally and within the top 3% in the state of Texas
Close proximity to Texas Tech University (+40,000 student enrollment)
+200K residents within a 5-mile radius
West End Center Shopping Mall located directly to the north the site which houses major national tenants including: Costco, Cabela's, Marshalls, Nike Factory Store, Best Buy, Five Below, Bed Bath & Beyond, Dave & Busters, and more.
Ideally situated just off Highway 289 along West Loop 289, a highly trafficked retail corridor (73,285 VPD)
Nearly 750 multifamily units spanning across 3 apartment complex's just to the north of the Asset
Canyon West Shopping Mall is located directly to the west of the Property. The mall's tenant roster includes Sam's Club (over 2M annual visitors), Pet Smart, Burlington, Target, Office Depot and more.