Lubbock Market Overview . . . 2010 Summary Of Key Economic Indicators SECTOR
The following are excerpts from the 2010 Blosser Report - Prepared by Blosser Appraisal, a division of the Gerald A. Teel Co., Inc.
Overall, Lubbock is weathering the national downturn better than some other areas of the State as most indicators of the economy are stable, with the exception of the local office market. The slowed construction over the past two years is considered a positive factor in that the market has not overbuilt. The year ahead is anticipated to be a good year for the multi-family market as student population at Tech is anticipated to continue to grow providing adequate demand for the new units coming on-line in 2011 while providing additional demand in the market.
TREND
Apartment Occupancy
The following are current trends for the Lubbock market. • Through year-end 2010, new apartment permits were up 150% over the 2009 new units of 226, which had been just over a 50% decrease from the 491 new units posted in 2008.
Retail Occupancy
• The average home price in 2010 of $143,659 is a good 4.3% increase over the average house price for 2009 as computed by the local Multiple Listing Service posted sales.
Office Occupancy
• In 2009, we saw commercial construction values drop to $63.1 million, which was down from 2008 figures of $129.3 million. The 2010 figures totaled $85.5 million. This represents approximately a 36% increase from the 2009 total, but still significantly below the last ten year high of $151.2 million spent in 2007.
Employment
• The annual average unemployment rate in 2010 for Lubbock was 6.2%, compared to 5.4% average for 2009. However, this compares favorably to the average 2010 statewide unemployment rate of 8.2% and national average 2010 unemployment rate of 9.6%.
Retail Sales
• Year end 2008 retail sales for Lubbock peaked at a six-year climb to $4.4 billion. The year-end 2009 retail sales figure showed a decrease of 6.5% from 2008 to $4.15 billion. Annualizing the 3rd Quarter 2010 retail sales figures, indicates a slight increase of 1/2% over 2009, which is good news for retailers. Our herein attached retail market survey indicates a slightly improving retail real estate market. • Moody’s Economy.com November 2009 Lubbock economic outlook stated that Lubbock’s retail trade was forecast to recover sooner than it will in the nation. This appears to be the case. The November 2010 report indicates that the “features of the college-town economy will keep retail and leisure/hospitality moving at a heady pace henceforth. Spending will be supported by the large Texas Tech University student body, which comprises one-tenth of the population.”
Single-Family Permits
MLS Homes Sales
• Personal income growth is gathering pace thanks in part to cotton prices that are at their highest in 15-years and are supporting farm incomes in the area. Average hourly earnings are rising and sales tax revenue is on the rise. • We saw a significant slowdown in vacant land transactions throughout 2010 and new single-family lot development continued to be slow as in 2009. The national residential mortgage crisis appears to have had some affect locally, as mortgages are more difficult to obtain, which could be fueling part of the increase in occupancy in the multi-family market. The incentive programs for first-time home buyers also ended in 2010, which has had some impact on new home construction.
Average Home Price General Commercial Construction
• Although lenders across the country have slowed and/or stopped lending, local banks still report commercial money is available to loan. Our survey of lenders indicates loan-to-value ratios are level to down slightly; however, interest rates remain favorable. Contact: Rick Canup, CCIM For a full Blosser Report:
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Owner/Broker / 806.784.3204 direct E-mail at RCanup@CBCWorldWide.com
Lubbock Office Market . . . 2010 Information obtained from the 2010 Blosser Report - Prepared by Blosser Appraisal, a division of the Gerald A. Teel Company, Inc.
The overall vacancy rate for Lubbock office buildings decreased in 2010 according to The Blooser Report, an annual survey of commercial real estate done by Blosser Appraisal, a division of the Gerald A. Teel Company, Inc. Citywide vacancy rates decreased from 14.2% in 2009 to 11.6% in 2010. Blosser Appraisal’s annual survey for 2010 includes 44 general office buildings and 19 medical office buildings for a total of 63 office buildings within Lubbock city limits. Lubbock Office Market Vacancy History 16% 14%
Percent Vacant
Coldwell Banker Commercial represented the Purchaser in the acquisition of a NNN Investment property: 158,546 SF Guyland Shopping Center in Dumas, TX.
12% 10% 8% 6% 4%
2000 Vacancy 13.2%
2001 10.3%
2002 9.5%
2003 10.1%
2004 10.5%
2005 10.1%
2006 10%
2007 10.1%
2008 14.6%
2009 14.2%
The chart above illustrates a ten-year vacancy history for the overall Lubbock office building market. (66 general and 18 medical prior to 2010 and 44 general and 19 medical starting in 2010)
As stated in the Blosser Report, “although the data presented indicates the office market to have improved over last year’s figures, the current data set primarily considers larger multi-tenant buildings, most of which remained stable or improved slightly from previous years. Most of the older smaller buildings (Class C and D) were removed from our survey, many of which are vacant with lower quoted rental rates and various lease terms.” “The Class A, B, and better Class C properties are more indicative of the health of the Lubbock market”.
Coldwell Banker Commercial represented the Buyer in the acquisition of the 355 unit Sagewood Apartments in Lubbock.
“There are signs that the Lubbock office market is improving” according to Jef Conn, Office & Industrial Brokerage & Leasing Specialist with Coldwell Banker Commercial. “The 2010 Blosser Report quoted a 18.59% weighted vacancy while the 2011 Blosser Report quoted a 15.11% weighted vacancy for Southwest Lubbock”. Again, the average rental rates reported for 2010 represent full service rents. All triple net and modified gross lease rates were adjusted to full service to begin a better annual comparison for future Blosser Reports.
Survey Parameters
Avg. Weighted Vacancy All General Office (44 bldgs) 10.94% N. Central / Northeast 20.02% Northwest 4.91% South Central / Southeast 11.48% Southwest 15.11% All Medical Office 13.31% North Central (12 buildings) 16.26% All Other Areas (7 buildings) 6.46%
Avg. Weighted Rent $15.06/SF $13.20/SF $14.73/SF $15.13/SF $16.51/SF $20.37/SF $21.50/SF $17.76/SF
The newest buildings have a significantly high vacancy, which indicates that they are still in initial lease-up or were built speculative and still awaiting a tenant or owner occupant. There have been a number of owner occupied buildings constructed in the last few years resulting from favorable financing terms that have been available. The 1980-1989 construction contains the majority of large multi-tenant buildings considered Class A for the Lubbock market and thus indicates a relatively healthy office market.
Coldwell Banker Commercial represented the Landlord and Tenant in leasing 3,206 SF in Pyramid Plaza Office Bldg.
Contact: Jef Conn, CCIM Investment / Office Specialist / 806.784.3216 direct For a full Blosser Report: E-mail at JConn@CBCWorldWide.com
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Lubbock Apartment Market . . . 2010 The following are excerpts from the 2010 Blosser Report - Prepared by Blosser Appraisal, a division of the Gerald A. Teel Co., Inc.
Overbuilding is not an issue currently. The 2010 survey includes 98 apartment communities with 12,990 units. The market has witnessed a strong upswing from 2009 to 2010. New conventional construction has been limited over the past two years. The past year has seen positive absorption and a downturn in vacancy from 11.1% in 2009 to 7.6% for 2010. Lubbock Apartment Market Vacancy History 14%
Coldwell Banker Commercial represented the Seller and Purchaser in the disposition and acquisition of a 9,400 SF office/ warehouse.
12%
Percent Vacant
The historical vacancy chart illustrates the Lubbock supplydemand curve in dramatic fashion.
10% 8% 6% 4% 2%
2000 2001 Vacancy 8.5% 7.7%
2002 4.9%
2003 4.5%
2004 2005 2006 2007 2008 2009 2010 9.7% 11.3% 13% 12.1% 11.3% 10.1% 7.6%
Age and vacancy also have a certain correlation illustrated below. Construction Period Occupancy Rate
>2000 94.2%
1990’s 91.1%
1980’s 93.3%
1970’s 91.7%
<1970 91.6%
The following bullet points summarize the foregoing as well as provide additional data. • Improving market • 12,990 units (98 communities) surveyed • 987 units vacant (7.6% vacancy) • 294 new units added in Overton Park for 2009 as additional Phase to existing complex • 208 new units at 53rd & Chicago delivered in mid 2010 catering to families & young professionals (Windsor Creek) • 250 new units under construction on Slide Road, N of North Loop and S of Erskine (open 1st quarter 2011)
Coldwell Banker Commercial represented the Landlord and Tenant in leasing a 1,629 SF office space in Lakeridge Professional Office Building.
The following 5-year rental rate history chart is based on our interviews with managers for an unfurnished unit where tenants pay extra for energy expense.
Year 2004 2005 2006 2007 2008 2009 2010
1 Bedroom $500 $493 $480 $481 $518 $536 $539
2 Bedroom $629 $616 $590 $602 $650 $654 $665
• Rents up 0.5% for 1 bedroom plan • Rents up approximately 1.7% for 2 bedroom plan • Rents up 0.33% for 3 bedroom plan • Rent concessions were almost non-existent as the year ended. Coldwell Banker Commercial represented the Landlord in leasing 3,185 SF of retail space in MIssion Plaza Center.
3 Bedroom $856 $849 $769 $787 $805 $887 $890
The Takeaway: As stated in last year’s report, vacancies are continuing to decrease at a pace significantly higher than the past few years while rents are increasing at a slower rate. Some concessions are still in use and the new product coming on line is generally near Texas Tech University and directed mostly to students or younger households. With continued growth of Texas Tech, the market is poised to further improve in the near term until new development follows pace with the student enrollment. Contact: Taylor Tucker, CCIM Multi-Family Specialist / 806.784.3260 direct For a full Blosser Report: E-mail at TTucker@CBCWorldWide.com
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Lubbock Student Housing Market . . . 2010 The following are excerpts from the 2010 Blosser Report - Prepared by Blosser Appraisal, a division of the Gerald A. Teel Co., Inc.
The university has increased enrollment with 31,637 students for the Fall 2010 semester. Texas Tech is making an effort to achieve Tier One status as well as to increase enrollment to 40,000 by 2020. They have indicated that if the current growth continues at similar pace, the goal could be met by 2015, which indicates an influx of approximately 1,500 students annually over the next five years. Graph illustrate the enrollment trend at Texas Tech University over the last 11 years. 31,637 30,049
27,569
28,325
28,001
28,422
27,996
25,573
10 20
09 20
20
08
07 20
06 20
05 20
04 20
03 20
02
01
24,558
20
20
28,620
28,549
00
Coldwell Banker Commercial represented the Seller in the disposition of a 24,178 SF warehouse in southwest Lubbock.
Texas Tech University Enrollment
20
32,000 31,000 30,000 29,000 28,000 27,000 26,000 25,000 24,000
In early 2011, the university announced plans to construct an additional 500 bed dormitory at the corner of Boston and 18th Street with completion anticipated in 2012. This would bring the total on campus bed count to around 7,000. Private Off-Campus Student Housing The Lubbock market is served by a number of projects. Those surveyed for this study are summarized to the right. Coldwell Banker Commercial represented the Purchaser in the acquisition of the 24 unit Elkhart Apartments in Lubbock.
The data below is based on the rental rates for the 13 communities and the occupancy rates for the 13 stabilized communities. There are two projects opening in 2011 and their units and beds are added to the 2011 column. 2008 2009 2010 2011
Total Communities Total Units Total Beds Average Occupancy* Average Mo. Rent/SF
11 2,365 6,169 98.3% $1.23
12 2,753 6,774 91.9% $1.23
13 15 2,954 3,421 7,714 9,129 97.7% n/a $1.27 n/a
*Occupancy is calculated on a weighted per bed basis
Community University Trails Raiders Pass University Pointe Centre at Overton Park University Fountains University Courtyard The Grove ULofts Raider Station The Edge Cottages of Lubbock The Reserve on Frankford The Suites at Overton Park Stabilized Totals Opening in 2011 Twenty Five 20 The Retreat at Lubbock Total New for 2011 Total Supply
Yr Blt. Units Beds 2003 240 684 2001 264 828 2003 204 696 2005 275 393 2005 228 648 2005 288 864 2008 192 504 2007 175 208 1963 103 183 2009 205 280 2009 239 842 1997 243 737 2008 298 847 2,954 7,714 2011 2011
249 562 218 853 467 1,415 3,421 9,129
Summary The Lubbock student market has supported the addition of more beds. Additional development continues to occur in 2011. If the university continues to strive to increase enrollment, additional housing will undoubtedly be feasible in the near term.
Coldwell Banker Commercial represented the Landlord in leasing 3,416 SF of office space in southcentral Lubbock.
Based on year-end 2010 numbers, demand continues to keep up with supply, as occupancy rates average 98% and rents increased from 2009 to 2010 by 3.3%. The 1,415 beds being added in 2011 will help in alleviating the tight market, although the enrollment at Texas Tech continues to grow. Contact: Taylor Tucker, CCIM Multi-Family Specialist / 806.784.3260 direct For a full Blosser Report: E-mail at TTucker@CBCWorldWide.com
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Lubbock Retail Market . . . 2010 The following are excerpts from the 2010 Blosser Report - Prepared by Blosser Appraisal, a division of the Gerald A. Teel Co., Inc.
“Retail sales in Lubbock continued their decline in 2009 decreasing approximately 6.55%, under the 2008 year-end figures,” according to the 2010 Year End Blosser report, an annual review of conditions in the Lubbock commercial real estate market published by Gerald A. Teel Co., Inc. The 2010 Blosser Report compiled data on 67 retail projects comprising over 2.3 million square feet of retail space, but does not include numerous freestanding retail and big box buildings. The report hints at good news for retailers and landlords, however, concluding that by annualizing the latest quarter’s sales figures in 2010 yields only a slight 0.5% decrease in retail sales for 2010 when compared to 2009. Lubbock Retail Market Vacancy History 20%
Coldwell Banker Commercial represented the Seller in the disposition of a 30,000 SF office building in north Lubbock.
18%
Percent Vacant
16% 14% 12% 10% 8% 6% 4% 2000 Simple Vacancy 17.3% Weighted Avg. -
Coldwell Banker Commercial represented the Landlord and Tenant in leasing 1.923 SF of office space in Northpark Village Shopping Center.
2001
2002
2003
2004
2005
2006
2007
15.4% -
11.5% -
9.3% -
10.7% -
11.2% -
11.7% -
13.4% 13.4% 12.4%
2008
2009
2010
13.4% 14.8%
17.5% 14.2%
“We have definitely seen our retail market take a hit during the nation’s recession,” says Scott Womack, office and retail leasing and brokerage specialist for Coldwell Banker Commercial. Womack continues, “However, we still offer a relatively stable economy for retail businesses and when you consider the purchasing power of our 28-county trade area, I believe that we will see additional retailers enter our market in the next 18 months, translating into higher occupancies in our existing centers. We still have some work to do, though, in filling existing shopping center space to reach the sub-10% vacancy rates that we enjoyed a few years ago.” While multi-tenant retail development has virtually come to a stand-still, the Milwaukee corridor in west Lubbock seems to be the center of attention for single occupant retail development. According to Womack, Lubbock has seen multiple companies focus on this corridor and the intersection at Milwaukee and 82nd Street for retail expansion and new entries into the market. Some of the newest entries in this area include Christian Bros. Automotive, Chick-fil-A, and Kwik Industries. According to the Blosser Report, the average weighted vacancy citywide for 2010 is 14.19%, with the southwest and northwest quadrants of the city boasting the lowest vacancy rates (11.89% and 11.08% respectively). The overall average weighted rental rate for 2010 is $14.27 per sq. ft. with the overall majority of the quoted rental rates in the retail market being triple net (NNN).
Coldwell Banker Commercial represented the Purchaser in the acquisition of a NNN Investment property: a KFC in Pantego, TX
Contact Scott Womack at 806.784.3265 to discuss your leasing, brokerage or management needs for your shopping center or office property. Contact: Scott Womack For a full Blosser Report:
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Retail & Office Brokerage & Leasing Specialist / 806.784.3265 direct E-mail at SWomack@CBCWorldWide.com
Building Owners Receive Significant Tax Benefits With Cost Segregation In an economic environment in which Washington DC is increasing fees, taxes and regulations, commercial building owners are looking for alternative ways to offset those negative effects and find ways to increase their cash flow. One way astute building owners are greatly benefiting is through reducing their tax burden and increasing their cash on hand with engineered cost segregation. The tremendous tax savings created by cost segregation generate an average of $70,000 in income tax benefits per million dollars in building cost. Cost segregation can be applied retroactively on buildings built, purchased, or improved since 1986. These savings can be applied to the current tax year without amending the returns. Why Hasn’t My CPA Recommended Cost Segregation? Many CPAs are aware of cost segregation but have not recommended it to their clients because a cost segregation study re-
quires a level of engineering expertise that is uncommon within the CPA community. CPAs in the past have not had a qualified engineering firm with which to work to get the studies done for their clients. Who Qualifies for a Cost Segregation Study? Any commercial property that has been purchased, constructed, or had leasehold improvements since January 1, 1987 with a building cost of $200,000 or more qualifies for cost segregation. How Does Cost Segregation Work on Existing Properties? The IRS regulations allows taxpayers to go back as far as January 1, 1987 and report depreciation they were entitled to take in past years in the current tax year. The result of this catch up depreciation is a significant income tax benefit to the taxpayer.
Typical Savings Overview for a Commercial Building
Placed in service: 2007 Original depreciation method: 39-year life, straight line method
Building Cost
$2,150,000
Date acquired: Tax year:
April 2007 2010
2011
2014
$204,487
$259,613
$424,991
$284,557 $46,271 $157,455 $488,283
$324,186 $56,695 $199,902 $580,782
$344,000 $83,850 $327,243 $755,092
2010
2011
2014
$283,796 36% $102,167
$321,170 36% $115,621
$330,102 36% $118,837
Current Method Accumulated depreciation reported 39-year straight line method
Alternative Method Cost segregation study accumulated depreciation
5-year 15-year 39-year Total
Results For Tax Year Increased accumulated depreciation expense Tax rate (estimated) Estimated accumulated income tax savings
What Percentage of My Building’s Construction Costs Can Be Reclassified? According to a June 2009 article published by the Texas Society of CPAs, 10-60% of a buildings construction costs can be re classified from 39 year real property to 5, 7, or 15-year property. What are Some of the Components that Can Be Reclassified to 5, 7, and 15-year Depreciation? A partial list of components typically seen in an engineered cost segregation study includes: 5-year: cabinets and millwork, communication/electrical equipment, drive-up windows, wall finishings, glass window walls, interior partitions and walls, moldings, misc steel products 7-year: pneumatic tube systems, projection screens, 15-year: site preparation and drainage, sidewalks and curbs, landscaping, exterior signage, parking lot, temporary power, driveways, misc foundations About the author: David DeLamar is an senior consultant and manager for Cost Segregation Services Inc., a engineering firm specializing in cost segregation studies nationwide. David can be reached at 806.773.6382 or emailed at ddelamar@cssi-associate.com.
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DUMAS, TEXAS
5917 - 67TH STREET
Guylane Shopping Center
Sagewood Apartments
Represented the Buyer in the acquisition of the 158,546 square foot Guylane Shopping Center in Dumas, Texas.
Represented the Buyer in the acquisition of the 355-unit Sagewood Apartments in southwest Lubbock.
6319 - 82ND STREET
3501 - 50TH STREET
Lubbock Commons
Mission Plaza Center
Represented the Landlord in leasing 2,256 square feet of retail store-front space in Lubbock Commons Center at the intersection of 82nd Street and Milwaukee Avenue.
Represented the Landlord in leasing 3,185 square feet of retail space in the Mission Plaza Center near 50th Street and Indiana Avenue.
1202 JARVIS AVENUE
8806 VALENCIA AVENUE
Office Building
Office / Warehouse
Represented the Seller in the disposition of a 30,000 square foot office building in northcentral Lubbock.
Represented the Seller in the disposition of a 7,000 square foot office/warehouse in southwest Lubbock.
9
1618 ELKHART AVENUE
1325 E. 37TH STREET
Elkhart Apartments
Office / Warehouse
Represented the Seller in the disposition of the 24-unit Elkhart Apartments in northwest Lubbock.
Represented the Seller and the Buyer in the disposition and acquisition of a 9,400 square foot office / warehouse building.
4412 - 74TH STREET
2333 - 50TH STREET
Coppertree Office
Richard Milburn Academy
Represented the Landlord and the Tenant in leasing a 1,416 square foot office space in Coppertree Office Park.
Represented the Landlord in leasing a 15,364 square foot office building to Richard Milburn Academy.
4100 ERSKINE STREET Coldwell Banker Commercial represented the Seller in the disposition of a 31.5 acre multi-family tract of land for a new student housing community, The Retreat of Lubbock, which is currently under construction.
The Retreat of Lubbock
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5177 - 69TH STREET
2517 - 74TH STREET
ASK Chemical Represented the Seller and the Buyer in the disposition and acquisition of a 12,827 square foot office/warehouse building in southwest Lubbock.
Represented the Buyer in the acquisition of a NNN Investment office/warehouse property in Midland, TX.
7902 OAKRIDGE AVENUE
114TH AND QUAKER AVENUE
Represented the Seller in the disposition of a 24,100 square foot office/warehouse property in southwest Lubbock.
Represented the Seller in the disposition of a 5.05 acre tract of development land on the northwest corner of 114th Street and Quaker Avenue.
500 EAST YUCCA LANE Coldwell Banker Commercial represented Monsanto in the purchase of a 17-acre tract in Lubbock Business Park. Monsanto, the agricultural biotechnology giant, has built a $15 million cotton research and development facility on this site. The megasite will provide a central point for the company’s cotton breeding and testing programs in the High Plains region of Texas.
Monsanto Cotton Research Facility
11
3323 S. LOOP 289
405 SLIDE ROAD
Pyramid Plaza Office Bldg.
Northpark Village Center
Represented the Landlord & Tenant in leasing 3,206 SF of office space in Pyramid Plaza Office Building.
Represented the Landlord & Tenant in leasing 1,923 SF of retail space in Northpark Village Center.
4903 - 82ND STREET
1303 - 82ND STREET
Lakeridge Professional Bldg.
Office / Warehouse
Represented the Landlord & Tenant in leasing 1,629 SF of office space in Lakeridge Professional Building.
Represented the Landlord in leasing 3,461 SF of office/ warehouse space.
Move-in ready facility featuring:
2600 South Sunset - Littlefield, TX Property: Existing 383 bed adult correctional facility Building Area: 94,437 SF Land Area: 30 Acres Year Built: 2000 Appraised at: $11,200,000
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Two layers of fencing and razor wire perimeter Covered and secure walkways between buildings Front entrance security gate Entrance security clearance area Personnel offices - computers office supplies - employee lounge “Control Room” for security cameras and doors Inmate health care facility - fully stocked Inmate visitation room Kitchen and laundry facility with equipment Inmate library - full stocked Inmate gymnasium & classrooms
DUMAS RETAIL CENTER
Available NNN
Dumas, TX
13,050 square feet
$1,829,935 Sales Price
Shadow anchored by Wal-Mart Supercenter
7.77% Cap Rate
Guylane Plaza - Dumas, TX
KFC - Ft. Worth, TX
SOLD
Grocery anchored 85% credit tenants
158,546 square feet
SOLD
8.10% CAP rate Absolute NNN lease
IHOP - Arlington, TX
Applebeeâ&#x20AC;&#x2122;s - Ft. Worth, TX
SOLD
Annual rent increases Absolute NNN lease
20 year lease 4,676 square feet
20 year lease 2,730 square feet
SOLD
8.62% CAP rate Absolute NNN lease
20 year lease 5,801 square feet
13
SONOMA PLAZA
PYRAMID PLAZA
6006 - 82nd Street
3223 S. Loop 289
For Lease
Unique architecture - water-conserving xeriscape Suitable for all professionals 2,521 SF available with $30 per SF allowance $16.00 PSF (Modified Gross)
For Lease
Quality glass & steel building with large atrium area Glass elevators and multi-level waterfall Space available: 299 SF to 4,181 SF $10 PSF to $16.25 PSF (Full Service)
OFFICE BUILDING - OVERHEAD DOOR
NEW OFFICE BUILDING
8802 Urbana Avenue
7310 Slide Road
For Lease
8 private offices - large conference room Large high-ceiling storage with overhead door 3,025 SF with covered parking $12.00 PSF (Modified Gross)
For Lease
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New construction 2,272 SF available $16.50 PSF Lease (NNN) Space can be finished to tenant’s requirements
SUNRIDGE CENTER
WILD BURGER GRILL
9810 Indiana Avenue
3515 - 50th Street
For Lease
For Sale
11% Cap Rate 10 year lease with 6% increase every 2 years Absolute NNN $982,000
9,200 SF anchor space Suites available from 1,350 SF to 9,217 SF $14.00 PSF (NNN) Generous improvement allowance
CAPROCK SHOPPING CENTER
CONERSTONE CENTER
2600/2700 - 50th Street
3249 - 50th Street
For Lease
Premier 50th Street center with 1,300â&#x20AC;&#x2122; of frontage Spaces from 1,469 SF to 41,714 SF $6.00 PSF to $12.00 PSF (NNN) Extensively renovated in 2005 Tenants include Bealls, Ross, Dollar Tree, Kool Smiles Home Depot next door
For Lease
23,000 SF Corner of two major commercial intersections High visibility - over 92,000 vehicles per day Next to a recently opened Hastings Entertainment Very large parking area
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1201 - N. GARY AVENUE
2601 SOUTH LOOP 289
For Sale
For Lease
$850,000 Sales Price 57,880 SF with 4,508 SF of office space 3 buildings / 2-story main building - remodeled offices 11 overhead cranes and truck well Entire property is fenced
$2.10 PSF Lease price (modified gross) 101,114 sq. ft. leasable space 12 dock-high doors - 9 with levelers 1 dock-high door with ramp access
4008 AVENUE A
1111 E. SLATON HIGHWAY
For Sale
$295,000 Sales Price 4,200 SF with 815 SF of office space Double overhead doors on each end of the building Extra tall ceiling height
16
For Lease
$3,200 per month lease price (NNN) 8,000 SF with office space and showroom area 2.23 acres with large fenced stack yard 4 dock-high overhead doors with ramp access Approx. 265 feet fronting the Slaton Highway
Our Primary Market Area
Lubbock Amarillo Abilene Midland Odessa San Angelo
The West Texas Multi-Family Team The West Texas Multi-Family team is the premier apartment brokerage team in West Texas. With more than 40 years of combined experience, we are qualified to serve your individual needs. The strength of the Team lies in our marketing capabilities, property analysis, and market expertise that is second to none. If you are considering buying or selling an apartment community, contact us.
Off-Market Transactions Many apartments sell or trade “Off-Market”. Contact us for additional apartments in Texas.
Taylor Tucker, CCIM DIRECT: 806.784.3260 CELL: 806.470.3844 TTucker@CBCWorldwide.com
Rick Canup, CCIM DIRECT: 806.784.3204 CELL: 806.438.8188 RCanup@CBCWorldwide.com
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Peppertree Apartments Location: Lubbock, TX Size: 180 Units Status: Sold Representation: Buyer / Seller
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31 ACRES - 34TH & MILWAUKEE AVE.
Four development tracts - could be subdivided Frontage on 34th Street and Milwaukee Avenue $3.50 per square foot - - $4.50 per square foot
82ND STREET & BROWNFIELD HWY.
43.95 total acres of development land Frontage along the BrownďŹ eld Hwy. (US 62/82) $1.50 per square foot - - $6.00 per square foot
PRIME DEVELOPMENT ALONG THE NEW MILWAUKEE CORRIDOR
Various tracts: 1.72 acres to 19.5 acres Between Canyon West & Super Wal-Mart $2.50 PSF to $12.50 PSF New Elementary open with Middle School Under Construction
18
4100 ERSKINE STREET
Two 15-acre development tracts Frontage along Loop 289 access road Call Broker for pricing
301 AVENUE Q
2.0 (+/-) acre tract - rapidly developing area Frontage along Marsha Sharp Freeway & Avenue Q $17.50 per square foot
4TH STREET & MILWAUKEE AVE.
5109 - 82ND STREET
7.126 acres - frontage on 19th St. & Milwaukee Ave. C-3 zoning - great development site $6.50 per square foot New United Market Street under construction
4.08 acres Prime Development Land - $15.00 PSF
Potential C-2 uses: Medical Office Retail Financial Mixed use: Office / Retail / Restaurant
19
RETAIL SPACE
RETAIL BLDG.
Caprock Shopping Cntr.
2731 - 50th Street
For Lease
41,714 SF
(Quality store-front space in a high-visibility shopping center)
Coldwell Banker Commercial represented the Seller and the Purchaser in the disposition and acquisition of a 6,250 SF office/warehouse in southwest Lubbock.
For Sale
3838 - 50th Street
11,767 SF
(Built in 2007 - 9,000 SF showroom - 38 parking spaces)
$1,150,000
$7.50 PSF (NNN)
RETAIL BLDG.
RETAIL BLDG. For Sale
3007 - 50th Street
4,000 SF
(Freestanding building - high visibility & traffic flow)
For Sale
3207 - 34th Street
7,080 SF
(Storefront space with overhead door in rear - great visibility)
$440,000
RETAIL BLDG. NNN Investment
Coldwell Banker Commercial represented the Seller and Purchaser in the disposition and acquisition of 15 acres along E. Slaton Highway.
3515 - 50th Street
$155,000
RETAIL SPACE For Sale
3,349 SF
(NNN Lease - new restaurant - remodeled building - 11% CAP)
For Lease
1303 82nd Street
1,612 to 3,461 SF
(Strip center with OH doors now available - build-out)
$982,000
RETAIL BLDG.
$8.00 PSF (NNN)
RETAIL SPACE For Lease
South Plains Crossing
For Lease
Coldwell Banker Commercial represented the Purchaser in the acquisition of a NNN Investment office/warehouse property in Midland, TX 6202 Milwaukee Ave.
29,212 SF
(State-of-the-Art facility - lg. service center - 2-bay oil change)
$14.79 PSF (NNN)
20
6802 Slide Road
1,600 SF to 3,200 SF
(144,965 SF Power Center anchored by a Hobby Lobby)
$14.00 PSF (NNN)
RETAIL SPACE
RETAIL BLDG.
Stonegate Center
For Lease
1001 N. 1-27, Plainview, TX
60,643 SF
(An anchor space in a large shopping center complex)
For Sub-Lease
5120 - 34th Street
3,158 SF
(Highly visible - major intersection - storefront space)
South Plains Crossing
6802 Slide Road
Salem Village Annex
4621 S. Loop 289
1,533 SF to 3,680 SF
3,900 SF
Sunridge Center
98th St. & Indiana Ave.
For Sale
3007 - 50th Street
3249 - 50th Street
4,000 SF
(Freestanding building with covered drive-through)
$440,000
RETAIL SPACE For Lease
23,000 SF
(High-visibility space at a major intersection - great parking)
$13.00 PSF (NNN)
RETAIL SPACE
$5.50 PSF (NNN)
$16.00 PSF (NNN)
For Lease
Up to 17,163 SF
(Storefront space - retail center on highway through city)
For Lease
RETAIL SPACE
(Storefront space in a quality building - great visibility)
1701 W. 5th Street
For Lease
RETAIL BLDG.
(144,965 SF Power Center anchored by a Hobby Lobby)
$7.30 PSF (Modified Gross)
RETAIL SPACE
Running Water Draw
$10.00 PSF (NNN)
RETAIL SPACE For Lease
3416 - 34th Street
10,908 SF
(High visibility - former CVS Pharmacy building)
$5.50 PSF (NNN)
RETAIL SPACE
RETAIL SPACE
Call Broker
Indiana Gardens North
3416 - 34th Street
For Lease
2,038 SF
(Highly visible - major intersection - storefront space)
$5.50 PSF (NNN)
RETAIL SPACE For Lease
9,216 SF
(New anchor storefront space - across Indiana from Kohl’s)
$14.00 PSF (NNN)
For Lease
3207 - 50th Street
1,573 SF
(Storefront unit - suitable for food service or all other retail)
$14.50 PSF (Modified Gross)
21
RETAIL SPACE Running Water Draw Plainview, TX
1701 W. 5th Street
RETAIL SPACE For Lease
Up to 17,163 SF
(Storefront space - retail center on highway through city)
Indiana Gardens North
3416 - 34th Street
RETAIL BLDG.
$7.30 PSF (Modified Gross)
RETAIL SPACE For Sale
1940 - 34th Street
2,038 SF
(Highly visible - major intersection - storefront space)
$5.50 PSF (NNN)
Coldwell Banker Commercial represented the Seller in the disposition of 5.11 acres of prime development land at 114th and Quaker Ave.
For Lease
6,045 SF
(Free-standing with lg. open space with storefront windows)
For Lease
Northpark Center
405 Slide Road
1,068 SF and 1,334 SF
(Storefront space in a quality retail complex)
$375,000
RETAIL SPACE
$14.00 PSF (NNN)
RETAIL BLDG. For Sale
For Sale
Coldwell Banker Commercial represented the Seller in the disposition of a net leased retail building in southwest Lubbock.
701 Broadway Ave.
11,500 SF
(A two-story building in the downtown business district)
1405 W. American Blvd.
$300,000
RETAIL BLDG.
5,400 SF
(Williams General Store - located in Muleshoe, TX)
$350,000
RETAIL SPACE For Sale
For Lease
Coldwell Banker Commercial represented the Landlord and the Tenant in leasing 1,416 SF of office space in Coppertree Office Park. 103 W. Main Street, Earth, TX
2,800 SF
(Former Dairy Queen restaurant - equipment included)
$125,000
22
4206 - 50th; Suite B
1,610 SF
(Two adjoining retail areas with a service counter & office)
$7.00 PSF (NNN)
RETAIL BLDG.
RETAIL SPACE For Sale
5129 - 69th Street
1,980 SF
(An operating oil change facility in southwest Lubbock)
For Lease
Stonegate Center
Plainview, TX
1,049 to 5,966 SF
(Multiple storefront spaces in a large shopping center)
$200,000
RETAIL SPACE Sunridge Center
98th St. & Indiana Ave.
$10.00 PSF (NNN)
RETAIL SPACE For Lease
1,350 to 4,400 SF
(New anchor storefront space - across Indiana from Kohl’s)
For Lease
South Plains Crossing
6802 Slide Road
1,200 SF to 2,800 SF
(144,965 SF Power Center anchored by a Hobby Lobby)
$14.00 PSF (NNN)
RETAIL BLDG.
OFFICE SPACE For Sale
710 E. Broadway
$14.00 PSF (NNN)
676 SF
(A drive-in restaurant with covered parking and all equipment)
Caprock Shopping Cntr.
2843 - 50th Street
Cornerstone Plaza
6012 - 82nd Street
5,488 SF
(Office space suitable for a wide variety of uses)
$85,000
OFFICE SPACE
For Lease
$6.00 PSF (NNN)
OFFICE SPACE For Sub-Lease
1,223 SF
(Storefront space in an attractive building with high visibility)
$16.00 PSF (NNN)
Caprock Shopping Cntr.
For Lease
2801 - 50th Street (Mezzanine)
31,864 SF
(Office space suitable for call center or back office use)
$7.00 PSF (NNN)
23
OFFICE BLDG.
OFFICE SPACE For Sale
410 - 10th Street, Abernathy, TX
2,800 SF
(Former Dairy Queen restaurant - equipment included)
Caprock Shopping Cntr.
2833 - 50th Street
1,469 SF
(Quality store-front space in a high-visibility shopping center)
$100,000
Coldwell Banker Commercial represented the Seller and Purchaser in the disposition and acquisition of a 4,200 SF warehouse/shop.
OFFICE SPACE
$8.00 PSF (NNN)
OFFICE SPACE For Lease
5502 - 58th Street
2,073 SF
(6 private offices, conference room, data room & break room)
For Lease
1116 Broadway; Suite B
OFFICE BLDG.
1,537 SF
(2 oversized private offices with large reception area)
$13.00 PSF (Modified Gross)
$12.00 PSF (Modified Gross)
OFFICE SPACE For Sale
NNN Investment
For Lease
For Lease
Coldwell Banker Commercial represented the Landlord in leasing 1,590 SF of space in Coppertree Office Building.
5807 - 63rd Street
6,750 SF
(3-tenant office property with good off-street parking)
2732 - 82nd; Suite A
$697,556 (9% CAP Rate)
OFFICE SPACE
1,823 SF
(Five private offices, large conference room and reception)
$15 PSF (Modified Gross)
OFFICE SPACE For Lease
For Lease
Sonoma Plaza
Coldwell Banker Commercial represented the Seller and Purchaser in the disposition and acquisition of a 12,851 SF office/warehouse. 6306 Iola Ave.; Suite 400
4,000 SF
(Space with large open bullpen, multiple offices & break room)
$12.50 PSF (Modified Gross)
24
6006 - 82nd Street
2,521 SF
(Space suitable for all types of professionals - $30 finishout)
$16.00 PSF (Modified Gross)
OFFICE BLDG.
OFFICE SPACE For Lease
8802 Urbana Ave.
3.025 SF
OFFICE SPACE For Sale
NNN Investment
2602 - 50th Street
5,000 SF
(8 private offices / large conference - lg. storage with OH door)
(2-tenant building with off-street parking - near University Ave.)
$12.00 PSF (Modified Gross)
$582,200 (9% CAP Rate)
OFFICE SPACE
OFFICE BLDG.
4,275 SF
2024 Broadway Ave.
2,354 SF
(Located between Texas Tech and downtown - corner lot)
$12.50 PSF (Modified Gross)
$210,000
OFFICE SPACE
3513 - 50th Street
6,824 SF
(2-tenant building next to Market Street on Indiana & 50th)
$458,311 (9% CAP Rate)
OFFICE SPACE South Pointe
$12.50 PSF (Mod. Gross)
For Lease
3223 S. Loop 289;
For Sale
400 Wall St., Midland, TX
180,000 SF
(High-rise office building in the heart of downtown Midland)
$1,250,000
OFFICE BLDG.
For Sale
NNN Investment
4,000 and 4,245 SF
(7-year old freestanding office building with multiple suites)
For Sale
(14 private offices, reception, conference room & file/workroom)
OFFICE SPACE
6306 Iola
OFFICE BLDG.
For Lease
6306 Iola Ave.; Suite 100
For Lease
Atrium Level 1,371 SF
(Large atrium / multi-level waterfall / glass elevators)
$10.00 PSF (Full Service)
For Sale
2333 - 50th Street 15,364 SF (2-story building - former MassMutual building) $1,150,000 Sale
OFFICE BLDG. For Lease
2034 - 82nd St.
526 SF; 1,052 SF & 2,104 SF (8-building office park currently under development)
$13.75 - $15.75 PSF (Full Service)
For Sale
17 Briercroft Office Park
2,801 SF
(Freestanding building - design allows for multi-tenant use)
$165,000
25
OFFICE SPACE
OFFICE SPACE For Lease
7310 Slide Road
2,272 SF
( New office space that can be configured to tenant’s needs)
Coldwell Banker Commercial represented the Landlord and Tenant in leasing a 3,400 SF retail building and large display lot.
For Lease
5313 - 50th Street
$14.50 PSF (NNN)
OFFICE SPACE
800 SF
(Two private offices with reception - coffee bar area)
$9.75 PSF (Modified Gross)
OFFICE BLDG. For Lease
4903 - 82nd Street
3.153 SF
(A quality suite with 12 private offices - large conference room)
For Lease
2024 Broadway Ave.
$16.00 PSF (Modified Gross)
OFFICE SPACE Pyramid Plaza
Coldwell Banker Commercial represented the Landlord in leasing 2,256 SF of retail space in Lubbock Commons Center.
3223 S. Loop 289
2,354 SF
(Located between Texas Tech and downtown - corner lot)
$8.00 PSF (NNN)
OFFICE SPACE For Lease
748 SF - 4,181 SF
(Large atrium / multi-level waterfall / glass elevators)
$16.00 - $16.50 PSF (Full Service)
OFFICE BLDG.
For Lease
7802 Indiana Ave.
2,973 SF
(Great location - high traffic area fronting Indiana Ave.)
$13.50 PSF (Modified Gross)
OFFICE SPACE For Lease
Caprock Shopping Cntr.
For Lease
Coldwell Banker Commercial represented the Landlord and Tenant in leasing 1,054 SF of office space in South Pointe Business Park. 3610 - 34th Street
756 SF to 6,100 SF
(Interior gutted - ready for finish-out. Close to medical district.)
$10 PSF (NNN)
26
2835 - 50th Street
1,607 SF
(Quality store-front space in a high-visibility shopping center)
$8.00 PSF (NNN)
OFFICE SPACE
OFFICE SPACE For Lease
5901 - 63rd Street
4,932 SF
(Multiple offices - large warehouse/shop area w/overhead door)
For Lease
Pyramid Plaza
3223 S. Loop 289
299 SF
1,998 SF $16.00 PSF (Full Service)
WAREHOUSE
$350,000
4412 - 74th Street
338 SF - 1,758 SF
(Professional office space - excellent parking)
4,200 SF
1120 - 14th Street
808 - 8th Street
11,954 SF
(2-story, corner lot building - downtown area)
$410,000
WAREHOUSE For Lease
21,852 SF
(6 dock-high doors - 3 with levelers - 1 with ramp)
$295,000
OFFICE/WRHSE.
For Sale
$14.50 - $16.00 PSF (Full Service)
WAREHOUSE
(High-bay warehouse / drive-thru overhead doors - fenced lot)
$2.50 PSF (NNN)
For Lease
8110 N. Frankford Ave.
8,204 SF
(Warehouse with truck well in front and 2 overhead doors)
$1,500 month (Modified Gross)
WAREHOUSE For Lease
1201 N. Gary Avenue
OFFICE BLDG. For Lease
For Sale
4008 Avenue A
6,100 SF
$24.00 PSF (Full Service)
OFFICE SPACE
(Quality space with multiple offices - large conference room)
3610 - 34th Street
(Interior gutted - ready for finish-out. Close to medical district.)
For Lease
4747 S. Loop 289
For Sale
(Executive suites / multi-level waterfall / glass elevators)
$10.00 PSF (Modified Gross)
OFFICE SPACE
OFFICE BLDG.
57,880 SF
(3 buildings - newly remodeled offices - 11 cranes - fenced)
$1.55 PSF (NNN)
For Sale
207 Hwy. 62/82
5,000 SF
(Prime highway frontage - 2 overhead doors - 4 offices)
$225,000
27
OFFICE/WRHSE.
WAREHOUSE For Lease
3501 Globe Ave.
1,810 SF
(2 private offices & reception - warehouse has overhead door)
Coldwell Banker Commercial represented the Purchaser in the acquisition of a NNN Investmement property: Applebee’s Restaurant in Killeen, TX.
For Sale
5813 E. 4th (FM 40)
$6.63 PSF (NNN)
WAREHOUSE
7,487 SF
(Freespan warehouse with 3 drive-thru overhead doors)
$325,000
OFFICE/WRHSE. For Lease
1111 E. Slaton Hwy.
8,000 SF
(Warehouse with showroom area and dock-high doors)
For Sale
1201 N. Gary Avenue
$3,200 per month (NNN)
WAREHOUSE
57,880 SF
(3 buildings - newly remodeled offices - 11 cranes - fenced)
$850,000
WAREHOUSE For Sale
For Lease
Coldwell Banker Commercial represented the Owner and Purchaser in the disposition and acquisition of a 2,600 SF office building in the medical district.
802 E. 34th Street
15,600 SF
(Warehouse/office with 2 overhead doors - 2 private offices)
8110 N. Frankford Ave.
$165,000
OFFICE/WRHSE.
8,105 SF
(Warehouse building with 2 overhead doors)
$1,200 month
WAREHOUSE For Sale
For Sale
Coldwell Banker Commercial represented the Seller in the disposition of a 5,263 SF office building. 714 - 34th Street
30,275 SF
(3 warehouse buildings - 8 offices - fenced - renovating now)
$350,000
28
906 Avenue U
3,000 SF
(Metal bldg. with 2 grade-level doors - 1 crane - fenced yard)
$200,000
WAREHOUSE
WAREHOUSE For Lease
2601 SE Loop 289
101,114 SF
(Lg. metal warehouse complex - multiple dock-high doors)
For Sale
808 - 8th Street
21,852 SF
(6 dock-high doors - 3 with levelers - 1 with ramp)
$1.32 PSF (NNN)
WAREHOUSE
WAREHOUSE
9,337 SF
(3 buildings - warehouse/office/self-storage - fully fenced)
222 N. Avenue U
40,963 SF
FARM
$340,000
For Sale
3306 Avenue L
$75,000
OFFICE/WRHSE. For Sale
2422 Clovis Road
1,993 SF
(Concrete block building with basement and overhead door)
$2.40 PSF (Modified Gross)
20,012 SF
(Warehouse with 6 offices - Dock-high doors)
$625,000
$312,450
For Lease
714 - 34th Street
30,275 SF
(3 warehouse buildings - 8 offices - fenced - renovating now)
$2.50 PSF (NNN)
RANCH For Sale
Brownfield, TX
14,400 SF
WAREHOUSE
(3 grade level doors / 1 dock high door - security fenced)
17,191 SF
(Six individual units - 100% leased)
WAREHOUSE
(Lg. metal warehouse - fenced yard - lg. overhead doors)
For Sale
2212 Clovis Road
2010 Clovis Hwy.
For Lease
$150,000
WAREHOUSE
For Sale
$450,000
For Sale
2520 E. 50th Street
WAREHOUSE
67 Acres
(Center pivot - 5 wells connected together - 1 domestic well)
$168,000
For Sale
CR 212 & FM 1525
531 Acres
(Approx. 20 miles west of Lubbock - hunting cabin - water well)
$512,000
29
1
N. Loop 289 & Memphis
6.05 Acres $7.44 per SF
24
SWC of 34th & Milwaukee 31 Acres $ 3.50 - $5.50 per SF
48
6424 - 4th Street
7.126 Acres $6.50 per SF
2
4100 Erskine Street
30 Acres Call Broker
25
11806 Slide Road
1.44 Acres $5.00 per SF
49
6210 - 82nd Street
1.4 Acres $16.00 per SF
3
502 N. Winston Ave. 4.96 Acres $12.00 to $14.00 per SF
26
6301 - 82nd Street
4.00 Acres $9.00 per SF
50
301 Avenue Q
2.00 Acres $17.50 per SF
4
Frankford & Erskine St.
3.26 Acres $6.00 per SF
27
5109 - 82nd Street
4.08 Acres $15.00 per SF
51
12403 Upton
5
N. Loop 289 & Slide Road
2.41 Acres $16.00 per SF
28
106th & Quaker Ave.
2.04 Acres $9.00 per SF
52
5309 - 50th Street
2.17 Acres $10.75 per SF
6
2nd Street & Slide Road
0.937 Acres $16.00 per SF
29
123rd & Slide Road
3.67 Acres $7.00 per SF
53
6005 - 47th Street
1.3 Acres $8.00 per SF
7
8102 Pontiac Ave.
0.69 Acres $6.00 per SF
30
Brownfield Hwy & 87th 43.995 Acres $1.50 - $6.00 per SF
54
6007 - 47th Street
38,000 SF $8.00 per SF
8
2401 W. Loop 289
2.836 Acres $5.00 per SF
31
NEC of Quaker & FM1585
9
3458 W. Loop 289
37,480 SF $6.00 per SF
32
NEC of Quaker & 146th St. 197 Acres $12,500 per Acre
10
SWC of 66th & Iola Ave.
19.5 Acres $2.50 per SF
33
2202 FM 1585
Plainview, TX: StoneGate Center 6.96 Acres $2.50 per SF 2.790 Acres $6.00 per SF 1.63 Acres $4.91 per SF 1.34 Acres $6.45 per SF 1.24 Acres $8.00 per SF
11
SEC 66th & Milwaukee Ave. 16.82 Acres $6.00 per SF
34
98th Street & Indiana Ave.
12
4103 N. Frankford
12 Acres $210,000
35
2611 S. Loop 289
13
6600 - 66th Street
6.11 Acres $6.00 per SF
36
SEC of 34th Street & MLK
14
6700 - 66th Street
3.93 Acres $6.00 per SF
37
2539 - 74th Street
17,424 SF $5.25 per SF
15
7221 Brownfield Hwy.
2.74 Acres $10.00 per SF
38
3402 E. 4th Street
141 Acres $375,000
16
6900 Milwaukee Ave.
3.63 Acres $10.00 per SF
39
99th Street & Slide Road
17
7100 & Milwaukee Ave.
4.86 Acres $10.00 per SF
40
4412 - 6th Street
18
7700 Milwaukee Ave.
5.47 Acres $12.50 per SF
41
7907 FM 179
19
7800 Milwaukee Ave.
6.97 Acres $12.50 per SF
42
FM 179
20
6400 - 74th Street
12.01 Acres $3.00 per SF
43
207 U.S. Hwy 62/82
3.19 Acres $2.34 per SF
21
7400 Milwaukee Ave.
1.72 Acres $12.50 per SF
44
4925 Marsha Sharp Frwy.
2.35 Acres $5.00 per SF
22
6810 - 82nd Street
0.85 Acres $12.00 per SF
45
SWC Quaker & 114th
23
6802 - 82nd Street
0.86 Acres $12.00 per SF
46
SWC 98th Street & Alcove
47
NEC Milwaukee & Ursuline 160 Acres $4,950 per acre
7.02 Acres $5.00 per SF
130 Acres $5,808 per Acre 1.9 Acres $12.00 per SF
15.377 Acres $22,162 per Acre 5.77 Acres $135,000
2.6 Acres $10.00 per SF 41,382 SF $11.00 per SF 21,000 SF $12.00 per SF 100 Acres $10,000 per acre
6.05 Acres $8.00 - $9.00 per SF 123 Acres $11,000 per acre
30 Acres $15,000 per Acre
Midland, TX: Interstate 20 & Rankin Hwy. Tract I 7.12 Acres $3.25 per SF Tract II 7.55 Acres $2.00 per SF Tract IV 7,000 SF $2.00 per SF Tract V 16.0 Acres $2.25 per SF A Few Examples of Previously Sold Land
4100 Erskine Street 2201 N. Loop 289 6810 - 82nd Street 109th & Quaker Ave. 66th & Milwaukee Ave. 34th & W. Loop 289 73rd & Milwaukee Ave. Woodrow Rd. & Quaker Frankford & Ursuline Ave. 502 N. Winston Frankford & Erskine St. Quaker Ave. & FM 1589 107th & Quaker Ave. Frankford & Erskine St. 66th & Milwaukee Ave. 10301 Slide Rd. 502 S E Loop 289 8602 - 19th Street 3424 W. Loop 289 6201 - 79th Street E. Loop 289 & 19th St. 7700 Milwaukee Ave. 73rd & Slide Road 68th Street & Iola Ave. 6305 - 82nd Street
30 Acres 45 Acres 2.4 Acres 3.99 Acres 8.35 Acres 140 Acres 12 Acres 421 Acres 5.02 Acres 4.96 Acres 1.49 Acres 7.02 Acres 35,000 SF 83,821 SF 40,197 SF 3 Acres 7.02 Acres 3.36 Acres 3.5 Acres 2.36 Acres 30 Acres 2.95 Acres 24,200 SF 5 Acres 38,000 SF
Midland, TX Development Land
31
Rick Canup, CCIM
806.784.3204
Scott Womack
806.784.3265
Broker and C.E.O. Started the company in 1977 Specializing in Multi-Family Brokerage and Land Development. Brokered thousands of multi-family units. Led the development of a prime 18 acre site involving such clients as Cheddar’s, Applebee’s, Outback Steakhouse, Hampton Inn, Courtyard by Marriott, and Fairfield Inn.
Specializing in the brokerage, leasing and management of office and retail properties. Participated in the sale or lease of commercial properties with a total volume exceeding $142,000,000 and has leased over 1,900,000 sq. ft. of office and retail space. Currently responsible for the management or leasing of over 500,000 sq. ft. of commercial properties.
Dwight Thomason, CCIM
Taylor Tucker, CCIM
806.784.3241
806.784.3260
A licensed Broker since 1976 and Certified Commercial Investment Member (CCIM). Specializing in Industrial and Retail brokerage and leasing. Maintains a database of over 950 industrial/warehouse properties with over 25,000,000 sq. ft. of space. Participated in the sale or lease of commercial properties with a total volume of more than $48,600,000 and leased over 1,000,000 SF of commercial space.
Certified Commercial Investment Member (CCIM). Specializing in the brokerage of Multi-Family properties throughout the Texas High Plains and West Texas an area covering 71 counties. Maintains a database of over 540 multi-family properties representing more than 57,500 total units and approximately 400 property owners. Recognized as the #1 apartment Broker in Coldwell Banker Commercial in 2009.
Jef Conn, CCIM, MBA
Parker Carroll, CCIM
806.784.3216
Certified Commercial Investment Member (CCIM). Specializing in Industrial and Office Brokerage and Leasing. Maintains a database of over 950 Industrial properties representing over 25,000,000 sq. ft. of space and approximately 1,000 owners and investors. Currently marketing over $11,000,000 of property. Member of the Coldwell Banker Commercial Industrial Group. Graduate of Texas Tech Rawls College of Business.
Beau Tucker
806.784.3219
Specializing in all aspects of net-leased investment and shopping center brokerage. A graduate of Texas Tech University’s Rawls College of Business with a degree in Marketing. Certified Commercial Investment Member (CCIM), Member of the International Council of Shopping Centers (ICSC), and sits on the Active Board for Young Professionals of Greater Lubbock. Recently closed over $40,000,000 in transactions.
806.784.3298
“The Land Man,” specializing in all aspects of land and investment brokerage and it’s use including site selection and land development opportunities for retail, office, and mixed-use end users and developers. Member of ICSC and RECON attendee. Member of the REALTORS Land Institute (RLI). Currently pursuing the Certified Commercial Investment Member (CCIM) designation and the coveted Land Consultant (ALC) designation. Maintains a database of over 1,750 investors. Responsible for over $80,000,000 of land inventory.
“EXPERT KNOWLEDGE AT WORK FOR Y0U” A TEAM approach to the brokerage, leasing, and management of retail centers, office buildings, and industrial properties as well as the brokerage of apartments and land development opportunities.