Lubbock, TX - Valvoline

Description:

- The tenant just signed a brand new 15-year lease with 4 (5-year) options to extend
- Lease is guaranteed by Valvoline, Inc. providing exceptional tenant security and long-term income stability
- Valvoline’s corporate backing substantially reduces credit risk and enhances the asset’s investment-grade quality
- Lubbock is constructing a new highway named Loop 88, which will span approx. 40 miles around Lubbock County, linking US-84 NW of Lubbock to US-84 SE
- The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation
- The newly-constructed building features a state-of-the-art design with high-quality materials

• Located as an outparcel to Commons South, a brand new shopping center with major tenants including Burlington, Ross Dress For Less, PetSmart, and more
• Situated just across Quacker Avenue from an H-E-B anchored shopping center, this is the first and only H-E-B in Lubbock which helps draw additional consumers to the trade area
• Positioned adjacent to a Walmart Supercenter anchored center, with other national/credit tenants including Academy Sports, Chick-fil-A, and more
• Located in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Kohl’s, Sprouts Farmers Market, Dillard’s, Tractor Supply Co, and more, further increasing consumer traffic to the site
• Strong tenant synergy promotes crossover shopping to the subject property

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Listing ID: a28TP000001piknYAA