LUBBOCK, TX (KCBD) - Officials with Coldwell Banker Commercial Capital Advisors say H-E-B has made plans to build on their property at 114th and Quaker. They are just not saying when.
Coldwell Banker released their Blue Book, which is their Market Intelligence for Commercial Real Estate. The Blue Book is an annual report with insights and data about commercial real estate markets in towns and cities across the U.S. and the world.
The report says, "Dozens of notable commercial chains (including H&M, Cheesecake Factory, Panera Bread, P.F. Chang’s, Best Buy, H-E-B, Bed Bath & Beyond, Aloft Hotel, and Tru by Hilton) have all either recently opened or will soon open new locations in Lubbock.”
The only business which is not currently open on that list is H-E-B. When KCBD asked the Lubbock location of Coldwell Banker “how soon is soon?” they were not able to give us a definitive answer.
They also could not confirm any details about the rumors of an H-E-B location at the South Plains Mall. We have reached out to officials with H-E-B for clarification on both locations.
The Blue Book listed other market highlights about Lubbock:
- Lubbock is the economic hub of the South Plains of west Texas and eastern New Mexico, with a vast 26-county trade area covering 40,000 square miles.
- The Lubbock MSA maintained historically low unemployment rates throughout 2018, ranging from 2.7% in October and November to 3.6% in June. Plus, the number of people employed in the Lubbock MSA reached a record high of more than 160,000 in 2018.
- The Texas Water Development Board projects Lubbock County’s population to reach 400,000 within the next 30 years.
- Lubbock’s average home sale price increased by 11.3% between 2017 and 2018, confirming that Lubbock real estate is a great investment.
- For two years in a row, SmartAsset.com has recognized Lubbock among the top ten cities in the US with the best work-life balance, thanks to Lubbock’s short commute times and low unemployment rate.
The population of Lubbock is 309,722 with a total of 114,486 households. The household median income is $48,709 with an unemployment rate of 2.8 percent.
In other business news, Lubbock in the Loop is reporting Uncle Julio’s is going to be in the current Firestone location in the South Plains Mall parking lot. They are planning to open in 2020 with construction to start in May or June.