8280 /8260 W I-20
This property comprises two distinct 6,500 square-foot industrial buildings strategically situated alongside Interstate 20, in the vicinity of Odessa, Texas. Each building currently houses separate tenants, each secured by individual lease agreements:
One of the tenants has committed to a 3-year lease agreement, which commenced on April 1, 2023.
The other tenant is under a 5-year lease agreement, which began on July 1, 2023.
The property's strategic location is a key highlight, as it is strategically positioned between the prominent Midland and Delaware Basin regions. This location bestows a competitive edge upon Oil & Gas service providers who choose to operate here. Additionally, the property enjoys direct frontage along Interstate 20, ensuring excellent visibility and accessibility, which can prove advantageous in case of tenant turnover.
Each of the two buildings boasts a comprehensive set of features:
- Office Space: Within each building, there is 1,500 square feet of office space, encompassing four well-appointed offices, a fully equipped conference room, a receptionist area, a convenient kitchenette, and two fully equipped bathrooms. This dedicated office space is designed to facilitate essential administrative and managerial functions.
- Shop Space: The shop areas within each building span 3,500 square feet and are fully equipped with robust 3-phase electric power infrastructure. These spaces are thoughtfully engineered to be "crane-ready," ensuring their suitability for heavy machinery and equipment requirements.
- Additional Space: In addition to the primary office and shop areas, there is an extra 1,500 square feet of available space on the upper floor of each building. This space can be customized and finished according to the specific needs of the tenants, whether it be for additional office space or adaptable to serve as comfortable living quarters.
- Parking and Storage provisions are well-addressed with asphalted parking areas adjacent to both buildings, ensuring convenience for employees and visitors alike. Furthermore, the property offers 2-3 acres of outdoor space, ideal for the secure storage of equipment, catering to the requirements of various businesses.
In summary, this property offers a highly advantageous proposition for Oil & Gas service providers, thanks to its strategic location, well-designed office and shop spaces, and ample provisions for equipment storage. With a blend of short-term and long-term lease agreements, it presents a compelling opportunity for stable and sustainable rental income.