Property History
Property Type
Property Type
Property Subtype
Marketing Description
Oak Tree Village (“Property”) is a 45,326 square foot leasehold interest shopping center situated on 3.38 acres (147,668 sf). The property is located at the southeast corner of Marsha Sharp Freeway and 19th street in Lubbock, TX. The property consists of two,
single story buildings housing a diverse mix of retail, office and medical tenants, including Texas Tech University. The combined occupancy of the buildings is currently 100% and has historically remained at or near full occupancy. The property is ideally situated adjacent to Texas Tech University and Covenant Health Medical Group. The ground lease rate will remain flat through the end of the current option period in 2054. This is not typical for the market, as most leases will have periodic escalations. Based on current market conditions, the ground lease rate is below market, and individual tenant rental escalations within the center create an increasingly positive leasehold value.
Investment Highlights
- Flat rate ground lease through 2054
- 100% occupied, multi-tenant retail/medical center
- Stable rent roll with long term tenancy
- Prime Location — southeast corner of Marsha Sharp Freeway and 19th street
- Adjacent to Texas Tech University with an enrollment of over 40,000 students and Covenant Medical Center, the largest medical practice in the Lubbock area
- New roof in 2016 still under warranty
- Parking lot resealed in 2021
Loan History
Financial History
Tax History
Contact Information
These phone numbers and email addresses are checked against the litigator and TCPA lists. Report an error
Ownership Information
Property Details
Contacts
Listing removed on
BY:
Bill Pyle PRO
•••.•••.6977
•pyle@••••••••••••.com
Listing removed on
BY:
Brandon Beeson PRO
•••.•••.6916
•••eson@••••-••.com
Map
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