Colliers is pleased to announce the successful sale of an ±82,675 square foot industrial investment site on ±40 acres at 5500 N County Road in Midland, Texas. Todd Moore and Connor Duffy of Colliers represented the seller in the transaction. The facility is under a long-term lease and Colliers produced multiple offers in the marketing process.
“We were able to secure multiple competitive offers and choose a buyer with a strong track record of execution for our client,” said Todd Moore of Colliers. “The buyer acquired a premium asset in the Midland market with an extremely landlord-friendly lease structure. When other net lease assets have seen some slowdown, the oilfield service leased assets have continued to attract investor demand as they offer historically higher yields than other assets.”
The site is located northeast of downtown Midland off of Loop 250, sharing the region with Midland’s high-enterprising and developing Skyview Development area. With Midland on the cusp of exponential industrial growth, this site location is prime real estate in the developing area.
The industrial property is within the Midland industrial market, which contains 18.1 million square feet of inventory with a current occupancy rate of 95%. The average quoted gross rental rate is $17.46 per square foot. The Midland market currently has 225,000 square feet of industrial product under construction.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
