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Midland Site for Industrial Sale, Leaseback
A multi-building, 50,000 square foot industrial/flex property in Midland, TX traded hands in a $10 mil sale/leaseback deal. Built in phases from 2018 to 2022, the property sits on just over 14 acres.
The property is fully occupied by the seller, Extract Production, a company that designs, develops, manufactures, and sells equipment for well applications. Upon closing of the transaction, Extract Production signed a 15-year absolute triple-net lease on the property.
The asset is near State Hwy 191 in the Permian Basin and is within an industrial corridor that is proximate to downtown Midland and Odessa. It is also just six miles from the Midland International Air & Space Port.
An SRS team led by Kyle Fant represented the seller in the deal. The team also sourced the all-cash buyer, an undisclosed public REIT.
- ◦Sale/Acquisition
