Shopping Center for Sale

Shopping Center for Sale
Sale Pending
Catylist Listing ID: 30511891
Property Subtypes: Strip Center
Status: Pending
Building Size (RSF): 50,196 SF
Gross Building Area: See Agent
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/4/2019

Overview / Comments

Coldwell Banker Commercial Capital Advisors has been exclusively retained to offer for sale the fee-simple interest in The HUB Shopping Center, located at 7320|7604|7610 Milwaukee Avenue in Lubbock, Texas. Offers to purchase the center must be made by 5:00 p.m. CST on October 30, 2019 (call date). For a complete Offering Memorandum prospective buyers are required to register and sign a confidentiality statement at www.TheHubShoppingCenter.com.

The HUB Shopping Center is a 50,196 sq. ft. shopping center on a 5.49-acre tract of land and constructed in two phases (2015/2016) with a strong mix of local, regional and nationally-affiliated tenants.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R325680
Zoning: C-3
Area Description: Anchored by a 1 million square foot regional power center one mile to the north and Walmart one-half mile to the south, The HUB is strategically located along Lubbock's fastest-growing commercial corridor. Current development along the corridor includes residential, retail, restaurant, office, multi-family development and automotive sales. Recent and planned commercial and residential development in close proximity continue to enhance this corridor for local residents, while making it an increasingly popular shopping and dining destination for the 640,000 people on the South Plains of Texas and eastern New Mexico that utilize Lubbock's offerings as a destination for shopping, dining, entertainment and medical facilities. Lubbock’s highly skilled and educated workforce, proximity and connection to major national and international markets, and affordable utility and living costs make it the ideal place to grow a business. Known as the “Hub City” of West Texas, Lubbock's diverse economy is based on manufacturing, agriculture, wholesale and retail trade services, as well as government, education and health care. As the 11th largest city in Texas, Lubbock boasts a trade-area population base of 639,921 people. Home to Texas Tech University, Texas Tech University Health Sciences Center, Lubbock Christian University and a fast-growing community college, Lubbock County boasts more than 50,000 college students. Lubbock is the only city in the nation with a comprehensive university, a health sciences center, an agriculture college and a law school in one location, making Texas Tech University the second largest contiguous university campus in the United States.
Property Condition: Excellent
Year Built: 2015

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,099 64,080 152,930
Median Age: 33.88 34.81 33.6
Households: 3,835 26,700 60,045
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