Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2230 East Murphy Street in Odessa, Texas, leased to Guidant Corporation. The subject property consists of approximately 4,930 square feet of warehouse space and is situated on 0.43 acres of land. The single-tenant asset features metal construction, a clear height of 16’, two dock-high doors, and two grade-level doors. Strategically located on the corner of East Murphy Street and South Meadow Avenue, the property has direct access to Interstate 20. The tenant is signed to a new triple-net lease through December 2029 at $15.09 per square foot with 3.0 percent annual rent escalations. Established in 2024 when One Equity Partners acquired TechnipFMC’s Measurement Solutions business, Guidant Measurement is a leading provider of automated solutions that measure the flow, release, and detection of leaks of oil and gas products through transportation methods such as pipelines.
Located in West Texas, the Midland-Odessa metro is considered to be an energy capital as the Permian Basin is one of the biggest oil fields in the world and is home to some of the largest petroleum-producing companies. The metro consists of Martin, Midland, and Ector counties. The public sector is a top job provider, but the private sector is the economic driving force. The two largest cities are Midland with over 140,000 residents and Odessa with roughly 123,000 residents.
As the largest single source of oil and gas deposits in the United States, Odessa has long been known for its rich resources. New businesses have come to the city that have helped diversify the economy as well as reinforce the quality-of-life standards. Odessa proudly boasts world-class cultural and recreational facilities as well as healthcare and transportation often associated with larger cities. It also serves as the crucial midpoint between Fort Worth and El Paso. Lucrative financial incentives, site selection, logistics, qualified workforce, easy access to foreign markets, and low cost-of-living make it easy to do business (odessatex.com). Major industries include: medical, energy, distribution, manufacturing, and technology.
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. © 2024 Marcus & Millichap. All rights reserved. (Activity ID: ZAF0060615)
