HOLLYWOOD BLASTING & COATING (ODESSA, TX)

SALE LEASEBACK

2105 W 39TH STREET, ODESSA, TX 79764
Price :
$ 2,560,000
Cap Rate :
10.00%
NOI :
$ 256,104
Lot Size :
4.95 acres
Year Built :
1963/2014/2016/2017
Property Area :
17,074 sqft
Status :
AVAILABLE
MARKETING PACKAGE

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

 

Investment Highlights

• Industrial Asset Totaling 17,074 Square-Feet, Situated on 4.95 Acres
• Four Metal Buildings with 10,650 Square-Feet Added in 2017 and Eight Total Grade-Level Doors
• Ten Year Leaseback with Hollywood Blasting and Coating with 15% Rental Increase in Year Six
• Hollywood Blasting & Coating has Been a Leader in Corrosion Protection and Coatings in West Texas for Fifteen Years
• Hollywood is an Approved Industrial Coatings Applicator for Major Brands Including PPG, Sherwin Williams and More
• Fully Fenced Lot with Ample Tenant Outside Storage Space
• Ideal Location Proximate to Kermit Highway, West 42nd Street, and Loop 338 for Convenient Access Across Odessa

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2105 West 39th Street in Odessa, Texas leased to Hollywood Blasting & Coating. The subject property consists of approximately 17,074 square feet of space and is situated on 4.95 acres of land. In 2017, 10,650 square feet were added to the main lot. The subject property features four metal warehouses, office space totaling 3,124 square feet, and warehouse space totaling 13,950 square feet. The asset also features eight total grade-level doors and a fully fenced lot with ample outside storage. The subject property is located in an ideal location proximate to Kermit Highway, West 42nd Street, and Loop 338 for convenient access across Odessa.

Hollywood Blasting and Coating has committed to a 10-year leaseback with 15 percent rental increase in year six. Hollywood Blasting & Coating has been a leader in corrosion protection and coatings in West Texas for 15 years. The company is an approved industrial coatings applicator for major brands including PPG, Sherwin Williams, and more.

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.

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. © 2019 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060072)

Exclusive Listing

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

Need Financing?

Learn how we can help you. Get Started

Questions?