US - Lubbock, TX
THB 345,497,000 | 6,548 m²
The Opportunity contains 24.43-acres divided into three parcels; 16.75 AC, 5.28 AC,and 2.40 AC. The Property provides convenient access to primary roadways (International Drive, I-4, Florida’s Turnpike, Kirkman Road, and Universal Boulevard) leading to area demand drivers such as the Orlando International Premium Outlets (directly across the street), Universal Studios, the Orange County Convention Center, and the upcoming Universal’s Epic Universe. The International Drive corridor has become one of the most sought-after areas in the Central Florida market and around the United States with high walkability, strong above-area rents, and tremendous market demand. Nearly 118 million Americans visited Florida in 2021, which was the highest number of domestic travelers in the state’s history.
· Two high-profile outparcel development opportunities - high area barriers to entry due to the theme parks and shopping, making site demand exceedingly strong for development.
· The additional 5.28 AC in the rear of the Property presents an option to develop vertically for multi-family or numerous other uses (see OM Zoning page for more information). The Property is located on a signalized hard corner with frontage of 1,750 SF (+/-) on International Drive and W Oak Ridge Road.
· The Property is nearby to Universal Orlando Resort, Orlando International Premium Outlets, and the upcoming $5 BILLION Universal’s Epic Universe. When completed in 2025, Epic Universe will be Universal’s largest theme park and resort destination in the United States.
· The Bass Pro Shops and additional land are ideally located at the northern end of International Drive (22,500 VPD) – which is fed by traffic from I-4 (164,500 VPD), Kirkman Road (55,000 VPD), and W Oak Ridge Road (23,000 VPD).
· The neighboring Storey Drive Resort is set to bring a total of 516 condo units, vacation homes, and townhomes in the near term. The area benefits from the recently completed Grand National and Kirkman Road interchanges providing immediate access to I-4 and Florida’s Turnpike.
· There are over 125,000 hotel rooms at 400+ establishments within the Orlando area. There are more than 60,000 hotel rooms within 3 miles of the Subject Property.