Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1490 West Cardinal Drive in Beaumont, Texas, leased to DXP Enterprises, Inc. The subject property consists of approximately 16,000 square feet of industrial space and is situated on 1.65 acres of land. The single-tenant asset features four drive-in doors, metal construction, three-phase power, full climate control, multiple cranes and jibs, backup generator, and a newly coated roof with a 20-year warranty. Equipped with a levy that runs along the property line, the property is protected from storms and avoided flooding during Hurricane Harvey in August 2017. With frontage along U.S. Route 96, the property has easy access to Port Arthur. DXP Enterprises recently extended their triple-net lease through September 2026 with an additional five-year extension. Founded in 1908, DXP Enterprises (NASDAQ: DXPE) is a global provider of maintenance, repair, and operating services for a variety of industries such as oil, gas, and manufacturing.
The subject property is situated within the Beaumont submarket, containing 4.6 million square feet of industrial space largely concentrated in the oil and gas industry. In 2024, net absorption in Beaumont rebounded back in positive territory, up about 113,000 square feet. Net deliveries were essentially flat on the year at 7,000 square feet. The vacancy rate bucked the national trend in 2024, falling 230 basis points to 5.0 percent. Despite availability tightening, annual rent growth decelerated 410 basis points in 2024 to 0.8 percent. With roughly 28,000 square feet of industrial space under construction in the Beaumont submarket, representing less than 1.0 percent of inventory, vacancies and rent growth will largely be affected by industrial demand and the overall economic environment (CoStar).
Beaumont is located in Jefferson County along the Neches River and serves as the county seat. Located 85 miles east of Houston, the city is part of the Beaumont-Port Arthur metropolitan statistical area with a population of over 395,000. Beaumont is home to ExxonMobil Corporation’s largest oil refinery in the U.S. which also ranks as the third-largest refinery in the nation. The Port of Beaumont, a deep-water port located near the mouth of the Neches River, is the fourth busiest port in the United States according to the American Association of Port Authorities. The port is also the busiest military port in the world for processing United States military equipment. Beaumont is home to Lamar University, a public university that is part of the Texas State University System. The university has an estimated enrollment of 17,000 students.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0040391)
