Property: Former Blockbuster building
Description: Levelland, TX is 45 miles west of Lubbock and is easily classified as a tertiary market (population of 20,000). In 2005 BOMAC Partners, Ltd., a partnership formed by Trinity Partners associates, acquired 4 acres directly adjacent to a Wal-Mart Supercenter on Highway 114. This project required cooperation with Wal-Mart on several fronts. A cross access easement providing access to Wal-Mart’s parking lot was successfully negotiated. In a separate agreement, BOMAC negotiated the right to use Wal-Mart’s detention pond for drainage purposes. By the summer of 2008, BOMAC had successfully negotiated deals with numerous national retail tenants including Dollar Tree (8,000 sf), The Cash Store (1,600 sf), Hibbett Sports (5,000 sf), and Rue 21 (4,320 sf). BOMAC was prepared to construct an approximately 22,000 sf retail center on site. However, due to the onset of deteriorating national economic conditions Trinity Partners began marketing the site for sale to various retail developers. Subsequently, a compelling offer was made by a developer to purchase the site with the Tenants in place. BOMAC sold the tract in October of 2008. The retail center has been constructed and space was delivered to Tenants in April 2009.