Odessa, TX - Industrial Building

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a vacant industrial investment property located in Odessa, Texas. The offering is an excellent opportunity for an owner-user or further re-development of the site. The subject property was formerly occupied by Ahern Rentals and is equipped with 10 drive-in/grade-level doors.

The asset is strategically located near the hard corner intersection of Pagewood Avenue and Interstate 20 Service Road (4,900 VPD). The site is directly accessible via off-ramps of Interstate 20 (52,600 VPD), a major east-west traveling thoroughfare. The property is zoned LI (Light Industrial), allowing for a wide variety of opportunities and uses. The building is located in a highly desirable industrial location with many industrial tenants including Sunbelt Rentals, Sloan Energy Services, Liberty Oilfield Services, and a Family Dollar Distribution Center. Strong tenant synergy throughout the area promotes crossover exposure to the subject property. The city of Odessa, along with its neighboring city, Midland, represents one of the largest oil-producing regions in the country. The concentration of oil fields in the area, including the Permian Basin, has established the region as a leader in drilling technology and gas production. Odessa supports a highly-compensated, rapidly-growing labor force. More than 102,3000 residents and 59,600 employees support the 5-mile trade area. Households within 1-mile of the asset boast an affluent average household income of $111,002.