Oil-Rich Permian Basin: Avera Developing Spec Industrial

Rendering of spec Avera project in Odessa, Texas

In Odessa, Texas, AVERA, a Houston-based commercial real estate development, construction and investment firm, is developing a spec industrial building in the Permian Basin of west Texas.

The Permian Basin region is one of top oil-producing areas in the world. Baker Hughes reports 546 drilling rigs were operating in the Permian Basin last week, up from 469 a week earlier.

Avera is constructing of a crane- served building situated on 4 acres in the Permian Basin. The 23,750 SF development will be located at Faudree Road and I-20 in Odessa, Texas.

The expandable facility will sit on a fully fenced 4 acre site with stabilized yard. The building will be 20 ton crane ready, have a 26′ eave height and city utilities.

The project is for sale or lease, with expected completion in the fourth quarter of 2014.