2nd Quarter Newsletter

K W Commercial Lubbock

Industrial - Land - Multifamily - Office - Retail

www.kwcommercial-lubbock.com

2nd Quarter 2011

Serving West Texas


Ready, Set, Go - Making the Move

The lease is signed; the contract is executed; the deal is done: Now what??? Moving a business is usually, at the very least, a two step process. The first step is moving furniture and setting up phone and computer systems. During the second phase, em-ployees move in, setup and get ready for business. It can get complicated, and sometimes frustrating, when you, the business owner, are trying to run your business and arrange the move. Coordinating movers, phone system in-stallers and computer technicians are just a few important items to consider. The following checklist will provide de-tails and a timeline that will assist in making your move a smooth transition. At Least Two Months Before Moving: 1. Reprint business materials with new address: business cards, stationary, checks, deposit slips 2. Order telecom, computer & security services. 3. Notify vendors, customers and others of move. One to Two Months Before Moving: 1. Schedule with moving company. 2. Notify insurance company. 3. Confirm telephone & computer installation dates. 4. Purchase packing supplies, if needed. 5. Re-confirm move-out and move-in dates with building managers, if needed. 6. Review move with employees. 7. Put address change form on file at post office. One to Three Days Before Moving: 1. Call for final confirmation of all schedules and times. 2. Review new location to make sure set up is complete. 3. Make sure to have keys and alarm codes for employees as needed. 4. Re-confirm insurance coverage. 5. Verify that telecom and computer systems are working.

Moving Day: 1. Meet moving company at old location. 2. Walk through old location with property manager to confirm everything is complete and in order. 3.Unpack boxes and get to work! Though not an all-inclusive list, these ideas can help form the basis for a problem-free move. The easier the move, the easier it is for everyone to resume business as usual while welcoming customers and clients to the new location. Deciding on who to use for your tenant representation is not a decision to be made without thought. Saving yourself time and money are two important reasons to consider tenant representation for your next lease. If you are starting a new business, expanding an exist-ing business or relocating your current business, KW Commercial can help you find the property to best suit your needs. Call Julie Childs to discuss the tenant representation process and how it can benefit you. ——————————————————————— Julie Childs Commercial Brokerage & Leasing Office & Retail Specialist 806.771.7701 office 806.441.1481 cell [email protected]

4747 S. Loop 289 Suite 110, Lubbock, TX 79424 - office 806.771.7701 fax 806.771.7700 www.kwcommercial-lubbock.com

Featured Office/Warehouse Property For Lease

2215 Clovis Road

This featured property is a office/warehouse building for lease on Clovis Hwy two blocks east of University Avenue. The building has over 40,000 square feet available for lease. The property can be leased in total or any number of combinations. The property is completely fenced and has rail access. Lease rates: West warehouse - $2.75 PSF Modified Middle and East Ware house - $2.50 PSF Modified Office/warehouse - $4.00 PSF Modified

Warehouses Concrete Block Walls Metal Roof Some Sky Lights Rail Spur Access Fenced West Warehouse 12,000 SF 18 foot side walls 22 foot center 2 Overhead Doors Dock High with ramps Middle Warehouse 10,800 SF 16 foot side walls 20 foot center Overhead door East Warehouse 10,600 SF 16 foot side walls 20 foot center Overhead door Access to Dock High Ramp Access to Rail Office/Warehouse - 7,661 SF Office - 2,726 SF Warehouse - 4,935 SF Dock High Access Overhead Door


“I hear that train a coming” If you have ever walked down a railroad tunnel there is always the anxiety of whether the light you see is the other end of the tunnel or a locomotive about to run right over you. For the last few years we have all been walking down the recession tunnel and hoping the light we see is not that locomotive. Thankfully in West Texas our tunnel has not been as long or dark as it has been in other parts of our nation and the end definitely appears to be in sight. While it has not been a bed of roses for us the diversity of our economy has allowed Lubbock and West Texas to weather the economic storm better than other areas. Our economy while heavily dependent on agriculture our agri-culture economy is fairly diverse. Cotton may be king but there are other crops and commodities that are grown or raised here that help stabilize that sector of our economy. Lubbock has become a medical hub for the region and that brings all kinds of economic benefits. Not only do the pro-viders of those services provide benefits but the services they provide bring people here from out of town. Those individuals tend to spend money while they are here that create sales tax benefits for the economy. The education sector of our economy is important and one aspect of that sector, Texas Tech University, may be the greatest factor in weathering economic storm. A recent Wall Street Journal article said that cities with colleges and universities tend to withstand downturns in the econ-omy better than others. Lubbock typically has close to 40,000 students enrolled in its 4 colleges and universities. Texas Tech has recorded its two largest fall enrollment classes during this slow down in the economy. When Kent Hance became Chancellor of Tech in 2006 he set a goal for enrollment to be at 40,000 students by the year 2020. At the current pace of growth that goal will be attained.

In an AJ story in August 2008, Brad Ewing, Texas Tech business professor, is quoted as saying that this increase in enrollment should inject $480 million dol-lars into our local economy. Currently Tech is respon-sible for over $1.15 billion dollars of economic benefit to Lubbock and the surrounding area. Evidently dur-ing times of economic slowdown schools of higher learning tend to keep the economies around them from suffering the same difficulties as areas without such schools. Things here are definitely looking like there is light at the end of the tunnel. Now is a good time to be in-vested in Lub-bock, Texas and real estate is a great way to make that invest-ment. Your Kel-ler Williams of-fice wants to help you make that happen. We want to be your real estate company when it comes to any real estate transaction. Let KW Commercial and Keller Williams Residential assist you in your next real estate decision. David Bloodworth, CCIM Managing Director/Commercial Brokerage And Leasing 806.771.7701 office 806.632.3244 cell [email protected]

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Texas Tech Fall Enrollment

2000 though 2010

1602 Texas Avenue 9,425 SF Office Building

For Sale $150,000

OFFICE BUILDING

RETAIL CENTER

RETAIL SPACE

LUBBOCK COMMONS 6319 82nd Street

12,102 SF Sold

ULOFTS 1001 University Ave

1,050 SF For Lease $17.75 PSF Modified

FREE STANDING RETAIL BUILDING 2513 82nd St

6,656 SF For Lease $15.00 PSF NNN


RETAIL BUILDING

SOLD

SOLD


Featured Retail Property 110 E Hwy 62/82

Wolfforth, TX

This property is the former Rick’s Place Liquor Store on the frontage road of Hwy 62/62 in Wolfforth, TX just East of FM179. The main store has over 6,900 sq ft of floor space and is attached by a breeze way to a 2,800 cov-ered drive through. It has over 250 feet of frontage on the highway access road. It is zoned C-3

The property could be converted to a restaurant/sports bar with a very nice outside dining patio attached. It can be leased for $16.00 PSF with a modified gross lease or can be bought for $1,200,000.00

OFFICE BUILDING

RETAIL BUILDING

OFFICE BUILDING 2124 15th St

1,860 SF For Lease $8.00 PSF

RETAIL BUILDING 110 E HWY 62/82 WOLFFORTH, TX

6,9 For sale $1,200,000


LAND

LAKE ALAN HENRY LAND Justiceburg, TX

1.56 Acres For Sale $80,000.00

ENCLAVE OFFICE BUILDING 5012 50th Street

3,400 SF For Lease $14.00 PSF Full Service

OFFICE BUILDING

LEASED

OFFICE LAND

OFFICE LAND 8240 Boston Avenue

45,133 SF For Sale $121,390 $ 2.69 PSF



RETAIL SPACE


LAKE STORE

LAKE ALAN HENRY STORE Justiceburg, TX

4,000 SF For Sale $350,000.00

Highway Frontage Hwy 62/82 in Wolfforth

100,000 SF For Sale Can combined or sold separately

LAND

LEASED WAREHOUSE UNITS 8602 Ashe

28 units For Sale $1,200,000

WAREHOUSE

RETAIL SPACE LAND

MULTI FAMILY

HICKORY TREE APARTMENTS 1629 16TH

90 Units For Sale $999,000



DEVELOPMENT LAND 6420 4th Street

296,712 SF For Sale $1,483,560 $5.00 PSF


2218 BROADWAY 2,858 SF Office Building

For Sale $241,000

OFFICE BUILDING

LAND OFFICE WAREHOUSE

RETAIL SPACE

DEVELOPMENT LAND 82nd and Alcove

164,657 SF For Sale $975,484 $5.92 PSF

RETAIL SPACE 57th and Slide

2,788 SF Leased

1725 E. 50th St 4,393 SF Office/Warehouse

For Sale $100,000


Subject Property SOLD

LEASED

LAND RETAIL BUILDING

RURAL LAND MULTI FAMILY

TOLEDO COURTS APARTMENTS 306 Toledo Avenue 70 Units For Sale

$2,000,000

DEVELOPMENT LAND 5902 4th Street

152,600 SF For Sale $604,633 3.96 PSF

RURAL LAND CR6300 AND FM 2378 159.7 Acres For Sale

$320,000

FREESTANDING RETAIL BUILDING 2531 82ND Street

6,656 SF For Sale $850,000


Reese Redevelopment

SUBJ EC T

SUBJECT

FM2378

Hwy 114

LAND OFFICE BUILDING

RANCH LAND MULTI FAMILY

LYNNWOOD TOWNHOMES 306 Toledo Avenue

314 Units For Sale $63,000,000

DEVELOPMENT LAND Shallowater, TX

18.46 Acres For Sale $185,000

MULESHOE HUNTING RANCH South of Muleshoe-West of HWY 84

2600 acres For Sale $ 1,947,675 $750 per acre

ENCLAVE OFFICE BUILDING 5012 50th Street

For Sale Call Agent for Price

Subject

High School


LAND

Commercial Hard Corner Northwest Corner 4th and Alcove

2 Acres For Sale $495,000

Commercial Development Land 19th and Milwaukee Ave. 3.97 Acres For Sale

$997,825 LAND

OFFICE BUILDING

DOWNTOWN REDEVELOPMENT

OFFICE BUILDING 4913 S Loop 289

17,928 SF For Sale $1,695,000

Green/Cobb Building 1215 Avenue J

70,430 SF For Sale $750,000



2156 50th Street 4,850 SF Retail Building

Leased

RETAIL BUILDING

LEASED Leasing Brokerage Investments Land Development Tenant Representation Lease vs. Buy Analysis

RETAIL CENTER

LUBBOCK COMMONS 6319 82nd Street

2256 SF Retail Space Leased

Leased

MULTI FAMILY

VILLA APARTMENTS 2301 51st Street

36 Units For sale $1,000,000

COMMERCIAL REAL ESTATE QUESTIONS ?

David Bloodworth, CCIM Managing Director/Commercial Brokerage and Leasing - Retail and Office Specialization 806.771.7701 office 806.632.3244 cell 806.771.7700 fax [email protected]

Julie Childs Commercial Brokerage and Leasing - Retail and Office Specialization 806.771.7701 office 806.441.1481 cell 806.771.7700 fax [email protected]

KW Commercial = Answers

Retail Office Land Industrial Multi-Family Hospitality Shopping Centers Net Investment Properties Special Purpose


2nd Quarter Newsletter

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