Lubbock, TX - Whataburger (19th St)

Description:

• Corporate signed lease by Whataburger Restaurants, LLC
• Over 8 years remaining with 3 (5-year) option periods to extend
• The lease features 10% rental increases every 5 years and at the beginning of each option period, growing NOI and hedging against inflation

• The subject property is located near Texas Tech University, home to more than 40,000 full-time students, providing a direct consumer base from which the asset can draw upon
• The asset is located less than two miles from Jones AT&T Stadium, the home of Texas Tech’s football team that seats over 60,000 people
• The site benefits from its location on a hard corner at the signalized intersection of Avenue Q and State Highway 62 / 114, with a combined average daily traffic count of 36,100 VPD
• The property is located in the center of a primary retail corridor with national/credit retailers including Walmart Supercenter, Dutch Bros, Raising Cane’s, Taco Bell, Wingstop, Starbucks, Chipotle, 7 Brew, and CVS
• Strong synergy promotes crossover shopping to the subject property

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Listing ID: a28TP000002ChmPYAS