A multi-building, 50k sf, industrial/flex property in Midland, TX traded hands in a $10 mil sale/leaseback deal. Built in phases from 2018 to 2022, the property sits on just over 14 acres at 10817 West County Rd 75.
Kyle Fant, Britt Raymond, Matthew Mousavi and Patrick Luther with SRS Capital Markets represented the seller in the deal. The team also sourced the all-cash buyer, an undisclosed public REIT.
Luther added, “Industrial assets have been a bright spot in the market in 2023, although the market has been tight on availabilities. With industrial development slowing and less available inventory, sale-leaseback offerings are providing ideal acquisition scenarios for investors in need of deploying capital.”
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