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Pecos, TX

Pecos Farms Industrial Portfolio

Address:
210 and 228 US Highway 285, Pecos, TX 79772
Property Type:
Multi Tenant
Price:
$6,802,000
Cap Rate:
10.59% cap
NOI:
$720,001
Square Feet:
40,201 sqft
Lot Size:
7.31 acres
Price Per Square Foot:
$169.20
Year Built:
2020
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

  • Two-Building Industrial Asset Totaling 40,201 Square Feet, Situated on 7.31 Acres
  • New Construction Featuring 14 Total Grade-Level Doors, Wash Bays, and High-End Office Finish Out
  • Direct Water Connections to City Water and Backup Generators in Case of Power Outage
  • Seven-Year Triple-Net Leases with Ironclad Energy LLC and Gladiator Energy LLC at 1.5% Annual Rent Increases
  • Ironclad Energy Provides Pressure Pumping Support to the Oil Industry
  • Gladiator Energy Specializes in Downhole and Midstream Solutions for the Oil Industry with an Emphasis on Coiled Tubing
  • The Buildings are Situated Next to a 100-Room, 200-Bed Man Camp and Amenity Center to Conveniently House Workers in the Industry
  • Frontage Along Highway 285, Used for Oilfield Transportation from West Texas to New Mexico
  • Texas Department of Transportation is Exploring the Construction of a Loop off Highway 285, Which Would Potentially Connect Just South of the Site

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 210 and 228 U.S. Highway 285 in Pecos, Texas, owned and occupied by the subsidiaries of Edge OFS Holdings LLC. The subject portfolio consists of approximately 40,201 square feet of warehouse space among two buildings, and is situated on a total of 7.31 acres of land. The newly constructed assets feature a total of 14 grade-level doors, wash bays, and high-end office finishings.

Upon sale of the portfolio, the two existing tenants, Ironclad Energy, LLC and Gladiator Energy, LLC will execute a seven-year triple-net lease with 1.5 percent annual rent escalations. Ironclad Energy provides pressure pumping support for the oil industry, and Gladiator Energy specializes in downhole and midstream solutions for the oil industry with an emphasis on coiled tubing. Adjacent to the subject portfolio sits a 100-room man camp and amenity center to conveniently house workers in the oil industry. The portfolio also has frontage along U.S. Highway 285, which is commonly used for the transportation of oilfield-related activities to and from West Texas and New Mexico.

Pecos, Texas, was established as a railroad town during the construction of the Texas and Pacific Railway during the post-Civil War era. Pecos is the proud site of the world’s first rodeo competition held in 1883. The Texas Rodeo Hall of Fame is situated within the fully restored Texas and Pacific Railway Train Depot. With a population rising 47 percent to 12,916 residents, Pecos is one of the fastest-growing small towns in America. As the largest city in Reeves County, Pecos serves as the county seat. The local economy is driven by ranching, oil and gas production, and agriculture, particularly the cultivation of cantaloupes.

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. © 2022 Marcus & Millichap. All rights reserved. (Activity ID: ZAD0060248)