Investment Highlights

LONG-TERM NNN ABSOLUTE GROUND LEASE
» Corporate ground lease to tenant with established history of success
» In its most recent fiscal year, P.F. Chang’s total revenue climbed to $1.06 billion
» P.F. Chang’s has over 300 restaurant locations in 25 countries around the world
» Purchase price is lower than P.F. Chang’s average capital investment for a new store providing a well protected investment

FREEWAY-VISIBLE LOCATION IN 500,000-SF COMMERCIAL DEVELOPMENT
» Conveniently located along West Loop 289, with excellent visibility and access to 67,254 vehicles per day
» The property is in a freeway-visible spot with immediate access to on- and off-ramps for West Loop 289, which serves as Lubbock’s beltway and is a major corridor for tourist, commuter, and commercial traffic
» Centrally located between 19th Street (36,570 AADT) and 34th Street (20,317 AADT), greatly increasing traffic to the property
» Prominent location in West End Center, Lubbock’s premiere outlet and lifestyle shopping destination, featuring notable retailers like Best Buy, Cabela’s, Duluth Trading Company, Chick-fil-A, Marshalls, Nike Factory, ALOFT (opening late 2020), Vera Bradley, and many more
» Future plans for West End include two hotels with business and conference amenities

STRONG CUSTOMER BASE
» Minutes from Texas Tech University (38,209 students and 11,848 employees), a large public research school known for its varsity sports, which serves as a major economic engine for the region
» Less than a mile from Lubbock Christian University, a private college with 1,805 students
» Surrounded by densely populated residential neighborhoods, with 186,467 people living within a five-mile radius

NEW 2017 CONSTRUCTION
» High-quality construction completed in 2017
» Ample on-site and cross-access parking

Property Description

SOLD

The property is conveniently located along West Loop 289, with excellent visibility and access to 67,254 vehicles per day. The property is in a freeway-visible spot with immediate access to on- and off-ramps for West Loop 289, which serves as Lubbock’s beltway and is a major corridor for tourist, commuter, and commercial traffic. The site benefits from being centrally located between 19th Street (36,570 AADT) and 34th Street (20,317 AADT), greatly increasing traffic to the property. The property has a prominent location in the West End Shopping Center, Lubbock’s premiere outlet and lifestyle shopping destination, featuring notable retailers like Cabela’s, Duluth Trading Company, Chick-fil-A, Marshalls, Nike Factory, ALOFT (opening late 2020), Vera Bradley, Best Buy, and many more. Future plans for the project include two hotels with business and conference amenities.

The property supported by a strong customer base. The property is less than one mile from Lubbock Christian University, a private college with 1,805 students, and is just minutes from Texas Tech University, a large public research school known for its varsity sports, which serves as a major economic engine for the region. Other schools located in the nearby area include Westwind Elementary School (679 students), Bowie Elementary School (262 students), and Coronado High School (2,041 students). The property is also surrounded by densely populated residential neighborhoods, with 186,467 people living within a five-mile radius.