Contacts

Brandi Sikes, MCR, CRE

SVN | J. Beard Real Estate Company - Greater Houston

Property Details

Property Type Office - General Office
Property Size 728,203 SF
Units 5
Lot Size 10.05 Acre
Additional Rent Contact for pricing
Property Tenancy Multi-Tenant
Building Class A
Date Updated Nov 13, 2024

Located in Downtown Midland, TXThe Midland Office Portfolio (The "Property") comprises five strategically positioned office properties, collectively spanning 728,203 square feet. Three of these towers are conveniently situated on Wall Street within the central business district, while the remaining two properties grace the northern edge of downtown. Together, these properties rest on a generous 10.05 acres of land. With a current occupancy rate of 60.29%, the investment provides an investor a unique opportunity to substantially increase the value by bringing the properties to the Midland CBD occupancy rate of 84%. The portfolio consistently attracts strong lease inquiries. Boasting a diverse tenant mix of both local and national professional tenants, the properties extend beyond the traditional oil, gas, and mineral sectors, encompassing investment firms, real estate groups, law practices, financial institutions, and government agencies.

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Highlights

Excellent Location in Midland’s Business District - Office portfolio benefits from positions within the Central Business District.
Significantly Below Replacement Costs - Offering unparalleled value for investors.
Market Dominance - Ability to control a significant market share of office supply throughout the CBD of Midland.
Very Attractive Assumable Financing - 4.02% Fixed.
Strategic Lease Structuring - Capitalize on the opportunity to optimize lease terms early, offering extended agreement that enhance the weighted average lease term of the portfolio.
Value Add Opportunity - Current occupancy 24% below submarket occupancy rate.

Getting around

64/100
Walk Score ®
48/100
Bike Score ®

Powered by Walk Score ®

City Midland, TX
Neighborhood Homestead-Original Town
Zip Code 79701
Market Midland Odessa

Points of Interest

Walmart

1.54 miles
7-Eleven

1.56 miles
Sunoco

1.62 miles
Texaco

1.76 miles
Exxon

1.77 miles
Stripes

1.84 miles
Kent Kwik

2.21 miles
Jack's Gas Station

2.32 miles
Stripes Gas Station

2.38 miles
Tesla Supercharger

5.08 miles

LHS Parking

3.17 miles
HEB Parking Lot

4.56 miles

DoubleTree by Hilton Hotel Midland Plaza

0.11 miles
Microtel Inn & Suites by Wyndham Midland

1.46 miles
Candlewood Suites

1.47 miles
My Place Hotel-Midland, TX

1.62 miles
Super 8 by Wyndham Midland South

1.62 miles
Country Inn & Suites

1.64 miles
Quality Inn

1.65 miles
Comfort Inn

1.69 miles
Mainstay Suites

1.73 miles
Wyndham Garden Midland

1.93 miles

Walmart Supercenter

1.59 miles
Albertsons

2.04 miles
Kingsway Mall

2.41 miles
Holt Ranch Plaza

2.58 miles
H-E-B

3.22 miles
TJ Maxx

3.69 miles
Dillard's

3.82 miles
Ross

3.85 miles
Midland Park Mall

3.94 miles
Texas Pride Plaza

4.03 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.