August 4, 2022 – Luke Thomson and Joseph Pellecchia of Horvath & Tremblay have successfully completed the sale of a Slim Chickens in Lubbock, Texas. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,836,364.
Slim Chickens is located at 7801 University Avenue in Lubbock, Texas. The stand-alone building consists of 2,850 square feet and sits on a 0.73-acre lot. Slim Chickens has 9+ years remaining on an Absolute NNN Lease with four (4), 5-Year renewal options. The lease calls for 10% rent increases every 5-years throughout the base term and at the start of each renewal option period. The property is extremely well located at the intersection of 78th Street and University Avenue with outstanding visibility and frontage along one of the area’s primary retail thoroughfares. The Property is located in a densely populated residential neighborhood on the south side of Lubbock, providing a built-in customer base. The Property is surrounded by businesses and national retailers along University Avenue and enjoys close proximity to several area schools and Interstate 27. Additionally, the Property is only a few miles from Texas Tech University which boasts the second largest campus in the country and has a total enrollment of more than 40,600 students.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.