Premium Oilfield Technologies

Doherty Houston Industrial Group is pleased to exclusively offer this single-tenant industrial property leased to Premium Oilfield Technologies located in Midland, Texas. The subject property is a 35,400-square-foot facility sitting on 4.00 acres, located off the Business Route for Interstate 20 on West Industrial Avenue. There are approximately six years remaining on a triple-net (NNN) lease with three and one-quarter percent annual increases. There is one, five-year renewal option with three and one-quarter percent annual increases. Premium Oilfield Technologies is the number one manufacturer and provider of mud pump systems and expendables in the U.S. land drilling market.
This property is a brand-new, build-to-suit, with construction completed in 2024. The property features metal construction with 21 drive-in doors, which are electrically operated. There is 6,000 square feet of office space and 28,000 square feet of warehouse space, which includes a wash bay.

Midland is a city in western Texas and the seat of Midland County with small portions extending into Martin County. The population was 132,524 as of the 2020 census. Located in the Permian Basin in West Texas, Midland is a major center for American oil and natural gas production. Midland’s economy has long been focused on petroleum exploration and extraction.

The Permian Basin is an oil-and-gas-producing area located in West Texas and the adjoining area of southeastern New Mexico. The Permian Basin covers an area approximately 250 miles wide and 300 miles long and is composed of more than 7,000 fields in West Texas.