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Warehouse

Pecos Farms Portfolio

210 US Hwy 285, Pecos, TX 79772

Listing Price: $6,802,000

Cap Rate
10.59%
Gross SF
40,201
Price/Gross SF
$169.20
Lot Size
7.31 acres
Year Built
2020
Rentable SF
40,201

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 210 and 228 U.S. Highway 285 in Pecos, Texas, owned and occupied by the subsidiaries of Edge OFS Holdings LLC. The subject portfolio consists of approximately 40,201 square feet of warehouse space among two buildings, and is situated on a total of 7.31 acres of land. The newly constructed assets feature a total of 14 grade-level doors, wash bays, and high-end office finishings. Upon sale of the portfolio, the two existing tenants, Ironclad Energy, LLC and Gladiator Energy, LLC will execute a seven-year triple-net lease with 1.5 percent annual rent escalations. Ironclad Energy provides pressure pumping support for the oil industry, and Gladiator Energy specializes in downhole and midstream solutions for the oil industry with an emphasis on coiled tubing. Adjacent to the subject portfolio sits a 100-room man camp and amenity center to conveniently house workers in the oil industry. The portfolio also has frontage along U.S. Highway 285, which is commonly used for the transportation of oilfield-related activities to and from West Texas and New Mexico. Pecos, Texas, was established as a railroad town during the construction of the Texas and Pacific Railway during the post-Civil War era. Pecos is the proud site of the world’s first rodeo competition held in 1883. The Texas Rodeo Hall of Fame is situated within the fully restored Texas and Pacific Railway Train Depot. With a population rising 47 percent to 12,916 residents, Pecos is one of the fastest-growing small towns in America. As the largest city in Reeves County, Pecos serves as the county seat. The local economy is driven by ranching, oil and gas production, and agriculture, particularly the cultivation of cantaloupes.

Investment Highlights

  • Two-Building Industrial Asset Totaling 40,201 Square Feet, Situated on 7.31 Acres
  • New Construction Featuring 14 Total Grade-Level Doors, Wash Bays, and High-End Office Finish Outs
  • Direct Water Connections to City Water and Backup Generators in Case of Power Outage
  • Seven-Year Triple-Net Leases with Ironclad Energy LLC and Gladiator Energy LLC at 1.5% Annual Increases
  • Ironclad Energy Provides Pressure Pumping Support to the Oil Industry
  • Gladiator Energy Specializes in Downhole and Midstream Solutions for the Oil Industry with an Emphasis on Coiled Tubing
  • The Buildings are Situated Next to a 100 Room, 200 Bed Man Camp and Amenity Center to Conveniently House Workers in the Industry
  • Frontage Along Highway 285, Used for Oilfield Transportation from West Texas to New Mexico

Exclusively Listed By

Financing By

Warehouse

Pecos Farms Portfolio

Listing Price: $6,802,000

Cap Rate
10.59%
Gross SF
40,201
Price/Gross SF
$169.20
Lot Size
7.31 acres
Year Built
2020
Rentable SF
40,201

Investment Highlights

  • Two-Building Industrial Asset Totaling 40,201 Square Feet, Situated on 7.31 Acres
  • New Construction Featuring 14 Total Grade-Level Doors, Wash Bays, and High-End Office Finish Outs
  • Direct Water Connections to City Water and Backup Generators in Case of Power Outage
  • Seven-Year Triple-Net Leases with Ironclad Energy LLC and Gladiator Energy LLC at 1.5% Annual Increases
  • Ironclad Energy Provides Pressure Pumping Support to the Oil Industry
  • Gladiator Energy Specializes in Downhole and Midstream Solutions for the Oil Industry with an Emphasis on Coiled Tubing
  • The Buildings are Situated Next to a 100 Room, 200 Bed Man Camp and Amenity Center to Conveniently House Workers in the Industry
  • Frontage Along Highway 285, Used for Oilfield Transportation from West Texas to New Mexico

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the portfolio located at 210 and 228 U.S. Highway 285 in Pecos, Texas, owned and occupied by the subsidiaries of Edge OFS Holdings LLC. The subject portfolio consists of approximately 40,201 square feet of warehouse space among two buildings, and is situated on a total of 7.31 acres of land. The newly constructed assets feature a total of 14 grade-level doors, wash bays, and high-end office finishings. Upon sale of the portfolio, the two existing tenants, Ironclad Energy, LLC and Gladiator Energy, LLC will execute a seven-year triple-net lease with 1.5 percent annual rent escalations. Ironclad Energy provides pressure pumping support for the oil industry, and Gladiator Energy specializes in downhole and midstream solutions for the oil industry with an emphasis on coiled tubing. Adjacent to the subject portfolio sits a 100-room man camp and amenity center to conveniently house workers in the oil industry. The portfolio also has frontage along U.S. Highway 285, which is commonly used for the transportation of oilfield-related activities to and from West Texas and New Mexico. Pecos, Texas, was established as a railroad town during the construction of the Texas and Pacific Railway during the post-Civil War era. Pecos is the proud site of the world’s first rodeo competition held in 1883. The Texas Rodeo Hall of Fame is situated within the fully restored Texas and Pacific Railway Train Depot. With a population rising 47 percent to 12,916 residents, Pecos is one of the fastest-growing small towns in America. As the largest city in Reeves County, Pecos serves as the county seat. The local economy is driven by ranching, oil and gas production, and agriculture, particularly the cultivation of cantaloupes.

Exclusively Listed By

Financing By

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