WestMark Commercial Closes Sale of Lubbock Square
October 03, 2014
LUBBOCK, TX – WestMark Commercial announced today it closed the sale of Lubbock Square Apartments located at 4602 50th St.
WestMark Commercial marketed the property on behalf of the seller, Asken Properties, LLC. Lubbock Square is a 124 unit Class B asset located in central Lubbock. The first phase of Lubbock Square was built in 1976. Phase II was built in 1986. After extensive renovation over a four year holding period the seller successfully sold the property to an out of state syndication.
The WestMark sales team was led by Marty Cleckler. "This transaction demonstrates the current demand for well positioned, renovated multi-family properties, additionally the buyer captured the added benefit of rent increases during it's due diligence period." commented Cleckler.
About WestMark Commercial
WestMark Commercial is the leading provider of commercial real estate services in West Texas. WestMark Commercial offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; development services; investment management; and research and consulting. As always, we remain client focused and results driven! For more information, please visit www.westmarkcommercial.com.
About The WestMark Companies
The WestMark Companies, made up of WestMark Commercial, WestMark, Realtors®, Pat Ham, Realtors®, and WestMark Property Management, is a family of real estate professionals providing services with exceptional value.
WestMark has earned an enviable reputation as Lubbock’s leading independent firm and our brand is a recognized institution in the Lubbock area. Making a positive impact with each person we encounter is a core value to the company. WestMark brings the resources of an entire organization, with over 80 Realtors, 15 assistants and staff, and a management team engaged in its daily operation.
WestMark’s position as a leading independent broker is recognized by The Leading Real Estate Companies of the World, the largest referral and relocation network in the world. Our membership in this organization assures our clients that quality standards are maintained year in and year out. For more information, please visit www.westmarkrealtors.com or www.westmarkleasing.com.
4105 84th St. Lubbock, TX 79423
Main: (806) 794-3300 Toll Free: (800) 753-3889 Fax: (806) 794-5550