Pecos Industrial Portfolio
- 210 and 228 US Highway 285, Pecos, TX 79772
- Property Type:
- Multi Tenant
- Cap Rate:
- 10.00% cap
- Square Feet:
- 40,201 sqft
- Lot Size:
- 7.31 Acres
- Price Per Square Foot:
- Year Built:
- 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 Outs
- 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 Increases
- Ironclad Energy Provides Pressure Pumping Support to the Oil Industry
- Gladiator Energy Specializes 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 of Highway 285, That would Potentially Connect Just South of the Site
Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 210 and 228 U.S. Highway 285 in Pecos, Texas, occupied by subsidiaries of Edge OFS. The subject portfolio consists of approximately 40,201 square feet of warehouse space among two buildings, and is situated on a total of 7.56 acres of land. The newly constructed assets feature a total of 14 grade-level doors, wash bays, and high-end office finishings.
Ironclad Energy, LLC. and Gladiator Energy, LLC., recently executed a seven-year triple-net lease with 1.5 percent annual rent escalations. Ironclad Energy provides pressure pumping support for the oil industry. While 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.