Marcus & Millichap is pleased to present the opportunity for an investor to acquire a stabilized 20,657-square foot, multi-tenant retail center located in a prime location directly across from Texas Tech University in Lubbock, Texas. Fearless Plaza is comprised largely of internet-resistant, service-oriented tenants including Torchy’s Tacos, Barefoot Athletics, Amazon, Tikka Shack Indian restaurant, and Hawaii Poke & Ramen. Approximately 89 percent of the gross leasable area has triple-net leases. Situated on a 2.05-acre parcel, the building was constructed in 2012 and has a modern façade. The Torchy’s Tacos lease includes approximately 1,225-square feet of outdoor patio space.
Fearless Plaza is located in a coveted area in the North Overton/Overton Park Development, directly across from Texas Tech University. The subject property is situated one lot west of University Avenue facing 9th Street, enjoying excellent accessibility from multiple ingress points from 9th Street, Avenue X, and 10th Street. The property is two blocks south of the Marsha Sharp Freeway (Highway 82), the city’s major east/west thoroughfare that conveniently connects Interstate 27 to West Loop 289. National and regional retailers in the surrounding area include Raising Cane’s Chicken Fingers, Braum’s, Whataburger, Potbelly Sandwich Shop, Chipotle, Velvet Taco, Chase Bank, FedEx, City Bank, Chili’s Grill & Bar, Starbucks, and others. Walmart Supercenter constructed a new location in the district in 2006, with the building’s architecture coordinated to meet the architectural design and restrictions of Overton Park. Additional traffic to the area comes from several new hotels such as the Overton Hotel & Conference Center, the city’s largest four-star hotel with 304 rooms and suites, restaurant, and bar.
- 20,657-Square-Foot, Multi-Tenant Retail Center | Prime Location Directly Across from Texas Tech University
- 100% of the Leasable Area is Occupied | 89% of the GLA has Triple-Net Leases
- Complementary Mix of Internet-Resistant, Service-Oriented Businesses and Restaurants
- Current Average Rents are Below Market
- Building is 2012 Construction With Attractive Architecture | 2.05-Acre Lot with Ample Paved Parking
- Located in the North Overton/Overton Park Development, Strategically Located Between Texas Tech University and Downtown | Focal Point of Shopping, Dining and Entertainment for the Surrounding Neighborhoods
- Texas Tech University is Home to More Than 40,900 Undergraduate and Graduate/Law Students as of Fall 2023
- 14 Student-Housing Complexes in the Area Providing Thousands of Units | Over 5,000 Residents Within Walking Distance to the Property
- Additional Traffic from the Proximity to Several Hotels (Overton Hotel & Conference Center, Hyatt Place, Holiday Inn Express, Residence Inn, Courtyard by Marriott)
- Located Two Blocks South of Marsha Sharp Freeway, Lubbock’s Primary East/West Access Road Connecting I-27 to West Loop 289 | Provides Faster Access to Key Lubbock Areas Such as Downtown Central Business District, Education Centers and the Medical District
- Densely Populated Surrounding Area with more than 178,204 Residents within a Five-Mile Radius
- Lubbock is the “Hub City” for the South Plains | Economic, Educational and Healthcare Hub of a Multi-County Region
- Air Service Provided by Lubbock Preston Smith International Airport | Approximately 500,000 Passengers Annual
