US - Lubbock, TX
MYR 45,514,000 | 6,548 m²
As an exclusive representative of the Seller, JLL is pleased to present this opportunity to purchase the leasehold interest in The Shops at Arbor Walk (the “Property”), a 309,010 SF open-air center located in the thriving Austin MSA. Constructed in 2006, the Property features a premier lineup of essential and e-commerce resistant tenants.
Situated less than one mile from the intersection of the North MoPac Expressway and Route 183, the Property offers unparalleled accessibility and serves an expansive trade area. Within a 10-mile radius, there is a total population of 948,000 people and average household income of $110,000.
The Property has maintained terrific occupancy and tenant retention since its original construction in 2006. Five out of the six anchor tenants are original to the Property and have exercised renewal options since their original commencement, exemplifying the strength of the tenancy, property, and location. Most recently, Marshall’s exercised their renewal option in April 2020, extending their lease term through October 2026. As of December 2022, the Property is 98.7% leased. Seven (7) new leases totaling 23,423 square feet have commenced over the past 24 months, and current ownership is having active discussions for the last remaining vacancy.