Lubbock, TX - Cintas Industrial Building

Description:

SRS Real Estate Partners is pleased to offer the opportunity to acquire the fee simple interest in a triple-net leased Cintas facility in Lubbock, Texas. The tenant, Cintas Corporation No. 2, recently executed a new 7-year lease with two (2) additional 5-year renewal options, demonstrating long-term commitment to the site. The lease includes scheduled rent increases of $0.44 PSF in the first option period and $0.24 PSF in the second, providing built-in income growth and protection against inflation. Under the NNN lease structure, the tenant is responsible for real estate taxes, insurance, and most maintenance, leaving minimal landlord obligations, ideal for an investor seeking stable, low-management income.

The property is strategically located near the intersection of N. University Avenue (5,600 VPD) and N. Loop 289 (19,900 VPD), with Loop 289 serving as a major route around Lubbock and connecting to Interstate 27 (29,600 VPD). The tenant, Cintas Corporation No. 2, is a wholly owned subsidiary of Cintas (NASDAQ: CTAS), a publicly traded national operator with investment-grade credit ratings (S&P A-, Moody’s A3). With $9.6 billion in annual revenue, EBITDA margins above 25%, and over 400 facilities nationwide, Cintas provides a recession-resilient and essential services platform. Customer contracts are long-term and recurring, supporting reliable tenant retention.

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