Midland Office Portfolio Midland, Texas

Download Offering Memorandum & Due Diligence

Midland Office Portfolio

Address

Bank of America Building | 303 West Wall Street
One Wall Plaza | 306 West Wall Street
First Capital Bank Building | 310 West Wall Street
Atrium Centre | 110 West Louisiana Avenue
Dinero Plaza | 1004 North Big Spring Street
Midland, TX 79701

Property Overview

The 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 brining 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.

Midland, Texas is located in the heart of West Texas. The city is marked by its transformative growth and a flourishing investment landscape. The city owes its prosperity, notably its thriving oil and gas industry, business-friendly policies, and strategic initiatives aimed at diversifying its economic portfolio. Midland's geographical advantage within the Permian Basin, a global oil-producing powerhouse, makes it a prime destination for businesses and investors seeking promising opportunities. Its rich natural resources and strategic location continue to attract a plethora of ventures, fostering an environment ripe for economic development and wealth creation. The Permian Basin now accounts for over 40% of the U.S. oil production and 20% of natural gas production in the Nation.

Additionally, Midland has witnessed a surge in sectors beyond the energy sector. Investments in technology, healthcare, education, and renewable energy have propelled the city into new realms of economic possibility. These emerging sectors not only diversity the economy but also create avenues for employment and skill development, ensuring a sustainable and inclusive growth trajectory.

Investment 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.

Location

Team

Brokerage Team

Brandi Sikes

Senior Advisor
SVN
281.367.220 x171 brandi.sikes@svn.com

Jeff Beard CCIM

Managing Director
SVN
281.814.9928 jeff.beard@svn.com

Tony Yousif

Director
SVN
858.810.3623 tony.yousif@svn.com
Wilson Stafford

Wilson Stafford

Principal
Edge Capital Markets
214.545.6933 wstafford@edge-cm.com
John David Cobb

John David Cobb

Associate
214.545.6962 jcobb@edge-cm.com
Mart Martindale

Mart Martindale

Principal
Edge Capital Markets
214.545.6917 mmartindale@edge-cm.com