OCTG MATERIAL HANDLING SYSTEMS INC. (MIDLAND, TX)

SALE LEASEBACK

2614 COUNTY ROAD 103 WEST, MIDLAND, TX 79701
Price :
$ 1,100,000
Cap Rate :
8.30%
NOI :
$ 91,248
Lot Size :
1.81 acres
Year Built :
2010
Property Area :
15,208 sqft
Status :
UNDER CONTRACT
MARKETING PACKAGE

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

 

Investment Highlights

• Industrial Asset Totaling 15,208 Square Feet, Situated on 1.81 Acres
• Features Four Grade-Level Doors and 16’ Clear Height for a Wide Range of Potential Users
• Short-Term Leaseback with OCTG Material Handling Systems with Ample Time to Replace Tenant
• Office Space and Additional Storage Buildings Separate from Main Warehouse for Efficient Use of Warehouse Space
• Lease-Up Opportunity to Over $11 per Square Foot Allows Investor to Exit at a Profit
• Fenced Lot with Outside Storage Increases Utility for an Owner-User

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 2614 County Road 103 West in Midland, Texas, leased to OCTG Material Handling Systems, Inc. The subject property consists of approximately 15,208 square feet of space and is situated on 1.81 acres of land. The subject property includes separate office and storage buildings for efficient use of space. The main building features four grade-level doors and 16’ clear height. OCTG Material Handling Systems is committed to a one-year sale-leaseback. In addition, the current below-market rent creates a lease-up opportunity and exit strategy for an investor.

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 130,000 residents and Odessa with roughly 112,000 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 finding 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. (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.

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: ZAA0060760)

Exclusive Listing

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

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