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Net Lease

Covenant Testing Technologies

944 Humble Camp Rd, Pleasanton, TX 78064

Listing Price: $2,970,490

Cap Rate
11.00%
Gross SF
18,320
Price/Gross SF
$162.14
Lot Size
20.00 acres
Year Built
2012
Rentable SF
18,320

Investment Overview

Marcus & Millichap is pleased to present this single-tenant, net-leased, industrial portfolio located in Pleasanton, Texas. There are two properties in this portfolio leased to Covenant Testing Technologies, LLC and Drilling Tools International, Inc. These properties are available together or separately. Covenant Testing Technologies, LLC is located off U.S. Route 281 on FM 1344 (also known as Humble Camp Road) in Pleasanton, Texas. The subject property is a 17,692-square-foot facility sitting on 20 acres. There are approximately five and one-quarter years remaining, and the lease includes two-percent annual increases. Covenant Testing Technologies, LLC combines high-quality equipment and leading technology with some of the most skilled and knowledgeable operators in the business. Covenant provides best-in-class flowback and well testing services with a special focus on horizontal and pad drilling for the upstream oil and gas services industry. Covenant Testing Technologies, LLC combined with Stuart Pressure Control on August 18, 2020, to form the premier provider of Well Flow & Sand Management and Pressure Control Solutions in the Permian, DJ, Eagle Ford and Haynesville. Drilling Tools International, Inc. is located off Interstate 37 on Eagle Ford Drive in Pleasanton, Texas. The property has four buildings consisting of 9,813 square feet and is sitting on 10.10 acres. The lease has approximately one and one-half years remaining and includes periodic rent increases. Drilling Tools International (DTI) provides a wide range of rental tools, technology, and services to the drilling, completion, and production segments of the oil and gas industry, serving operators, drilling contractors and oilfield services companies. Pleasanton is in Atascosa County and conveniently located on U.S. Highway 281, 30 miles south of San Antonio. Pleasanton serves as the hub for many companies working in the Eagle Ford Shale. It is part of the San Antonio-New Braunfels Metropolitan Statistical Area. San Antonio is the seventh-most populated city in the United States and the second-most populous city in the state of Texas.

Investment Highlights

  • STNL Industrial Portfolio in Pleasanton, Texas (Two of a Seven-Property Portfolio Across Texas)
  • Crude Oil and Natural Gas Prices are at Pre-Pandemic Levels
  • Large Lots Allowing Outside Storage (Vital to the Operation of Each Tenant)
  • Varying Rent Growth

Exclusively Listed By

Financing By

Net Lease

Covenant Testing Technologies

Listing Price: $2,970,490

Cap Rate
11.00%
Gross SF
18,320
Price/Gross SF
$162.14
Lot Size
20.00 acres
Year Built
2012
Rentable SF
18,320

Investment Highlights

  • STNL Industrial Portfolio in Pleasanton, Texas (Two of a Seven-Property Portfolio Across Texas)
  • Crude Oil and Natural Gas Prices are at Pre-Pandemic Levels
  • Large Lots Allowing Outside Storage (Vital to the Operation of Each Tenant)
  • Varying Rent Growth

Investment Overview

Marcus & Millichap is pleased to present this single-tenant, net-leased, industrial portfolio located in Pleasanton, Texas. There are two properties in this portfolio leased to Covenant Testing Technologies, LLC and Drilling Tools International, Inc. These properties are available together or separately. Covenant Testing Technologies, LLC is located off U.S. Route 281 on FM 1344 (also known as Humble Camp Road) in Pleasanton, Texas. The subject property is a 17,692-square-foot facility sitting on 20 acres. There are approximately five and one-quarter years remaining, and the lease includes two-percent annual increases. Covenant Testing Technologies, LLC combines high-quality equipment and leading technology with some of the most skilled and knowledgeable operators in the business. Covenant provides best-in-class flowback and well testing services with a special focus on horizontal and pad drilling for the upstream oil and gas services industry. Covenant Testing Technologies, LLC combined with Stuart Pressure Control on August 18, 2020, to form the premier provider of Well Flow & Sand Management and Pressure Control Solutions in the Permian, DJ, Eagle Ford and Haynesville. Drilling Tools International, Inc. is located off Interstate 37 on Eagle Ford Drive in Pleasanton, Texas. The property has four buildings consisting of 9,813 square feet and is sitting on 10.10 acres. The lease has approximately one and one-half years remaining and includes periodic rent increases. Drilling Tools International (DTI) provides a wide range of rental tools, technology, and services to the drilling, completion, and production segments of the oil and gas industry, serving operators, drilling contractors and oilfield services companies. Pleasanton is in Atascosa County and conveniently located on U.S. Highway 281, 30 miles south of San Antonio. Pleasanton serves as the hub for many companies working in the Eagle Ford Shale. It is part of the San Antonio-New Braunfels Metropolitan Statistical Area. San Antonio is the seventh-most populated city in the United States and the second-most populous city in the state of Texas.

Exclusively Listed By

Financing By

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