4015 S Tx-289-loop
Lubbock, TX 79423
Outback Steakhouse: Lubbock, TX · Retail Property For Sale

CBRE' S NET LEASE PROPERTY GROUP is pleased to exclusively offer a 6,186-square-foot freestanding Outback Steakhouse situated on 1.38 acres in Lubbock, TX (MSA Population: 311,054). Outback Steakhouse' s new 20-year absolute NNN lease with 1.80% annual rent increases commenced in October 2016. This investment offers investors an excellent opportunity to acquire a net-leased asset leased on a long-term NNN basis to one of the nation' s premier casual dining restaurant operators. The property is ideally situated with excellent frontage and visibility on South Loop 289 (Traffic Count: 55,217 VPD). Outback Steakhouse is also an outparcel to a development that includes four hotels Fairfield Inn & Suites (62 rooms), Courtyard by Marriot (78 rooms), Hampton Inn (80 rooms) and Ashmore Inn & Suites (124 rooms) that provide the tenant with a built-in customer base. Other retailers in the immediate development include Cheddar' s, IHOP, Jason' s Deli and Applebee' s. In addition, the property benefits from its position within Lubbock' s premier retail corridor, with over 13.0 MSF of retail, 2.5 MSF of office, 1.2 MSF of industrial and 10,699 multifamily units within a 3-mile radius. Other nearby retailers include Walmart Supercenter, Home Depot, Stein Mart, TJ Maxx, Rooms to Go, OfficeMax, PetSmart, Hobby Lobby, Best Buy, Toys R Us, Bed Bath & Beyond, Staples, Shoe Carnival, Guitar Center and Pier 1 Imports in addition to many more.