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Industrial Park, are evidence that the Lubbock Industrial Park
exists.
Mr. Cantrell, in a report prepared in 1988 for the U.S. Army
Corps of Engineers, described the parcel of 30.3 acres and 8.56
acres as "VACANT AGRICULTURE" and did not mention the Lubbock
Industrial Park.
2. Dr. Friedman's Report and Respondent's Contentions
Dr. Friedman determined that the highest and best use of the
parcel of 30.3 acres at the time of the gift was agricultural.
In reaching this conclusion, Dr. Friedman's report states that
the parcel of 30.3 acres was located in an area primarily devoted
to agriculture. Dr. Friedman noted that the parcel of 30.3 acres
had approximately 400 feet of frontage on the (one-way) access
road of Loop 289, nearly 620 feet on Ursuline Street (a one-lane
gravel road), and no frontage on MLK. He felt that this modest
amount of frontage, relative to the parcel of 30.3 acres size,
relegated the tract to agricultural uses and that the parcel of
30.3 acres proximity to the Litton building renders the parcel of
30.3 acres less desirable for industrial uses than it otherwise
would be. In further support of his analysis, Dr. Friedman
pointed out that the industrial submarket had been weak over the
few years preceding 1992 and that industrial development was
unlikely in the neighborhood because market rental rates did not
justify new construction on an investment basis.
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