Coastal Pump & Equipment 10616 W County Road 75 12,000 SF Industrial Building Midland, TX 79707 $2,860,000 ($238.33/SF) 8.74% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 10616 West County Road 75 in Midland, Texas, leased by Coastal Production Systems, LLC. The subject property consists of approximately 12,000 square feet of industrial space and is situated on 6.66 acres of land. The single-tenant asset features metal construction, a clear height of 23’, six grade-level doors, a 2,250-square-foot office space, a wash bay, two HVAC units, a five-ton crane, and three-phase heavy power with 480 volts. Located just north of Texas State Highway 191, the property conveniently sits between Midland and Odessa.
At $20.84 per square foot, Coastal Production Systems is signed to a triple-net lease that runs through August 1, 2029. The rent escalates by 2.0 percent annually, and the lease carries two four-year renewal options. Founded in 2006, Coastal Production Systems (doing business as Coastal Pump & Equipment) is a trusted provider of high-performance equipment rentals and custom pump solutions for the oil and gas industry.
Located in West Texas, the Midland-Odessa metro is considered to be an energy capital as the Permian Basin is one of the biggest oil fields in the world and is home to some of the largest petroleum-producing companies. The metro consists of Martin, Midland, and Ector counties. The public sector is a top job provider, but the private sector is the economic driving force. The two largest cities are Midland with over 140,000 residents and Odessa with roughly 123,000 residents.
Midland is the center of America’s oil and gas production. Petroleum production and all things in between are prevalent in the area, but Midland is making great efforts and success in diversifying into additional industries such as aerospace. Interstate 20 runs through Midland, making it easy to transport goods and raw materials throughout the country. Rated the No. 1 state for business by U.S. corporate executives, this is an excellent place to start or grow a business in Texas. (midlandtxedc.com). Major employers include: Halliburton, Hilliard, Legacy Reserves, Midland College, Midland Health, Patterson-UTI, Pioneer Natural Resources, Schlumberger, Weatherford, Baker Hughes, Chevron, ConocoPhillips, Bloomberg, and more.