Colliers is pleased to announce the sale of the 10,203 square foot industrial building located at 495 Shale Rd in Pleasanton, TX. The seller, a private entity, was represented by Todd Moore, Barkley Peschel and Connor Duffy of Colliers.
“We received multiple offers and achieved 95% of the asking price, ultimately selling to an investor as part of a 1031 exchange”, said Todd Moore of Colliers. “The property was vacated and seamlessly leased by Baker Hughes, one of the world’s largest oilfield service companies. This is a testament to Barkley Peschel, the strength of the Colliers platform, and the thriving energy industry. We have seen CAP rates stable in this market sector even with the recent rise in interest rates.”
The total site consists of one building, totaling ±10,203 square feet and situated on ±9.625 acres on Shale Road, just west of Highway 281. The building and outdoor storage site is 100% leased by Baker Hughes. Baker Hughes Company is a renowned global leader in the energy technology sector. With a long and storied history dating back over a century, the company has consistently delivered cutting-edge innovations and solutions for the oil and gas industry.
The Eagle Ford Shale region in South Texas is one of the largest oil and natural gas “plays” ever discovered in the United States. Now that the drilling activity has stabilized in the Eagle Ford, Pleasanton remains one of the top locations for O&G companies to operate for the same reasons: geographic location in the middle of the play; ability to serve the entire Eagle Ford Region from one location, available workforce, and close proximity to San Antonio.
The San Antonio-New Braunfels MSA’s population is 2,598,796 which increased by 9.2% between 2015 and 2020. The population is expected to increase by 9.1% between 2020 and 2025.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 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, X @Colliers or LinkedIn.
