MIDLAND, Texas – Two prominent office properties in downtown Midland are being marketed for sale by Colliers International. These buildings are among the most notable trophy towers in the city’s office market and together offer substantial, high-quality commercial space in the heart of the Permian Basin.
The two properties, known as Fasken Center and Frost Bank Tower, collectively total approximately 600,000 square feet and maintain strong occupancy levels. Midland, located in the Permian Basin, sits within one of the nation’s largest shale oil producing regions, which supports continued demand for office space tied to the energy industry.
Colliers International brokers Patrick Duffy and David Carter, based in the firm’s Houston office, are representing the sale. The properties sit on roughly 7.8 acres and have historically retained healthy occupancy even during downturns in the energy sector, reflecting their prominence and appeal to local tenants.
Fasken Center is a twin-tower office complex comprising 421,546 square feet. Built in 1974, the complex is currently about 99.2 percent leased, making it one of the most fully occupied office assets in the downtown Midland market.
Frost Bank Tower is a 12-story, multi-tenant office building encompassing 177,952 square feet. Completed in 1982 and renovated in 2014, the Frost building sits across the street from the Midland Petroleum Club and serves a range of tenants drawn to its downtown location and updated amenities.
The Permian Basin remains one of the world’s most prolific shale oil producing regions. At present, daily oil production in the basin is estimated at about 2.6 million barrels per day, supporting continued economic activity and demand for commercial real estate in Midland. Industry forecasts have projected further growth in production in the coming years, reinforcing the region’s strategic importance to energy companies and investors.