BROWN & ROOT INDUSTRIAL SERVICES (MIDLAND, TX)

SINGLE TENANT

8915 W COUNTY ROAD 127, MIDLAND, TX 79706
Price :
$ 2,000,000
Cap Rate :
10.82%
NOI :
$ 216,300
Lot Size :
6.94 acres
Year Built :
2014
Property Area :
10,500 sqft
Status :
PENDING CONTRACT
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 10,500 Square-Foot Industrial Asset Situated on 6.94 Acres
• Features 20’ Clear Height, Three Grade-Level Doors, and a Five Ton Bridge Crane
• Four Years Remaining on Lease with Brown & Root Industrial Services, Offering Clients Plant Maintenance, Specialty Services, Turnaround, Engineering and Small Capital Construction Services
• Headquartered in Baton Rouge, Brown & Root Employs Approximately 10,000 People through 25 Office Locations and 115 Client Locations
• Triple-Net Lease with 3% Rent Escalations for Increasing Return
• Fully Fenced Lot with Ample Tenant Outside Storage Space
• Centrally Located Between Midland and Odessa, Just Off of Interstate 20

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8915 West County Road 127 in Midland, Texas leased to Brown & Root Industrial Services. The subject property consists of approximately 8,000 square feet of warehouse space, 2,500 square feet of office space, and is situated on 6.94 acres of land. The subject property features metal construction, 20’ clear height, three grade-level doors, and a 5-ton bridge crane. The asset has a fully fenced lot with ample tenant outside storage space. Brown & Root Industrial Services offers clients plant maintenance, specialty services, turnaround, engineering, and small capital construction services. They have four years remaining on a triple-net lease with 3 percent annual increases for increased return. Headquartered in Baton Rouge, Brown & Root employs approximately 10,000 people through 25 office locations and 115 client locations. The subject property is centrally located between Midland and Odessa, just off of Interstate 20.

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 driving the economic growth. The two largest cities are Midland with nearly 140,000 residents and Odessa with roughly 120,000 residents.

Midland is the center of America’s oil and gas production. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. Interstate 20 runs through Midland, making it easy to transport goods and raw materials throughout the country. Rated the No. 1 state for business by U.S. corporate executives, this is an excellent place to start or grow a business in Texas. (midlandtxedc.com). Major employers include: Halliburton, Hilliard, Legacy Reserves, Midland College, Midland Health, Patterson-UTI, Pioneer Natural Resources, Schlumberger, Weatherford, Baker Hughes, Chevron, ConocoPhillips, Bloomberg, and more.

 

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. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAA0061081)

Exclusive Listing

Davis Cagle
(972) 755-5230
Lic # TX : 722097
Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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