Commercial real estate booming in Lubbock as national corporation sets up shop | KLBK | KAMC

LUBBOCK, Texas – A new national corporation has its roots in Lubbock and is calling the Hub City an ideal investment location.

Continental Realty Corporation is based in Baltimore, Maryland and has spent $ 18.25 million to purchase the South Plains Crossing mall, which includes Hobby Lobby and Spec’s.

“The business-friendly environment, entrepreneurship, employment and population growth that we’re seeing in Lubbock specifically … check out any criteria we’re looking for,” said Josh Dinstein, senior vice president of acquisitions, Continental Realty Corporation.

This is the first time the company has invested in the Lone Star state, but it hopes it won’t be the last. The 12-acre, 150,000-square-foot property is only the first of a series of investments in West Texas.

“It’s kind of overlooked … but Lubbock has a lot going for it. It has the university, it has the research, it has the commercial business and there are just a lot of people who are moving there, ”said Dinstein.

The company initially considered larger cities like Houston, Dallas, and Austin, but Lubbock beat them.

Local real estate agent Jaidyn Stagner of Progressive Properties said there were several reasons Lubbock shot to the top of that list.

“Texas Tech is a big draw for students, but just like students, their parents buy real estate here. It’s just an ever growing market and I think companies are seeing that. They see Lubbock’s growth potential so long term that I think they are making a good investment, ”said Stagner.

And since these companies benefit from the city’s growth, it could be the gift that passes on.

“When the big corporations join in, I think it creates more job opportunities, so obviously people from far and wide will flock here,” said Stagner.