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|Last Updated Date||27 Jul 2020|
JLL is pleased to offer qualified investors the opportunity to acquire 1220 S. Faudree (“The Property”), a 24,000 square foot industrial asset situated on ± 5.1 acres in Odessa, Texas. Currently 100% leased, the property provides the opportunity to invest in a newly constructed single-tenant, net leased industrial building with double digit levered cash on cash returns. The facility was developed on a spec basis and subsequently leased to Cross Country Infrastructure Services, a leading supplier of equipment in the construction industry. Cross Country Infrastructure competed with several other users who were interested in the building, a testament to the strength of the market. The property provides investors with cash flow security through a committed single tenant and a weighted average lease term of 4.8 years with 2.5% annual rent bumps throughout.
* COMMITTED SINGLE TENANT
* QUALITY TENANCY
* NEW CONSTRUCTION
* TECHNOLOGICAL ADVANCES IN THE PERMIAN BASIN ARE THE KEYS TO U.S. ENERGY PERFORMANCE
* THRIVING PERMIAN BASIN ECONOMY