H&T Auger Portfolio
- 4519 Brazos Avenue, Odessa, TX 79764
- Property Type:
- Single Tenant
- Cap Rate:
- 8.33% cap
- Square Feet:
- 96,574 sqft
- Lot Size:
- 8.28 acres
- Two-Property Industrial Portfolio Totaling 96,574 Square-Feet, Situated on 8.28 Acres
- Metal Construction Featuring 25 Grade-Level Doors and Numerous Overhead Hoists
- Currently Leased to H&T Auger at Below-Market Rent with 2% Annual Increases
- Landlord has an Option to Terminate Lease, Creating Opportunity for an Owner/User or Investor Looking for a Higher Return
- Priced Significantly Below Similar Products Currently on Market, on a Price Per Foot Basis
- Located Proximate to Major Streets and Interstates for Easy Tenant Access
Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 4519 Brazos Avenue and 8100 North County Road West in Odessa, Texas, leased to H & T Auger. This is a two-property industrial portfolio totaling 96,574 square-feet and is situated on a total of 8.28 acres. The 4519 Brazos Avenue property consists of approximately 41,896 square feet of space and is situated on 2.70 acres of land. The 8100 North County Road West property consists of approximately 54,678 square feet of space and is situated on 5.58 acres of land. The subject properties feature metal construction, 25 grade-level doors, and numerous overhead hoists. The assets are both currently leased to H&T Auger at below-market rent with 2 percent annual increases. The landlord has an option to terminate the lease, creating opportunity for an owner/user or investor looking for a higher return. The portfolio is priced significantly below similar products currently on market, on a price per foot basis. The subject properties are located proximate to major streets and interstates for easy tenant access.
H & T Auger Company, located in Odessa, Texas, was founded in 1968 and is the leader in foundation drilling tools and development. The company is a producer of a complete line of Auger along with pockets, blades, pilot bits, and bullet teeth. The company offers a wide range of products, such as core barrels, air core barrels, drilling buckets, and muck buckets. The plant is located in more than 100,000 square feet of space and includes a rig, welding, fabrication, and machine and press shops. It offers replacement and repair services for the parts of H & T and Texoma Digger. H & T Auger Company provides a variety of drilling rigs, such as HT-300, HT-635, HT-Low-Clearance and HT-Trac for services such as foundation drilling, overhead clearance, pole-line drilling, anchor setting, fencing, and guardrail school service.
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 worldclass 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.