Eagle Ford Shale Facility Sold, Market briefs

In Houston, A 10-acre industrial property in the Eagle Ford Shale has been sold to an investor, the Colliers realty firm reports. The property is leased by energy giant Baker Hughes.

Located in the town of Pleasanton, the property consists of a 10,203-SF building situated on 9.6 acres on Shale Road, just west of Highway 281, and south of San Antonio.

The Eagle Ford Shale region in South Texas is one of the largest oil and natural gas plays ever discovered in the United States. Now that the drilling activity has stabilized in the Eagle Ford, Pleasanton remains one of the top locations for oil and gas companies to operate for the same reasons: geographic location in the middle of the play; ability to serve the entire Eagle Ford Region from one location, available workforce, and close proximity to San Antonio.

The Pleasanton building and outdoor storage site is 100 percent leased by Baker Hughes. Baker Hughes Company is a renowned global leader in the energy technology sector. With a long and storied history dating back over a century, the company has consistently delivered cutting-edge innovations and solutions for the oil and gas industry.

The names of the buyer and the seller were not disclosed. The seller of the property, a private entity, was represented by Todd Moore, Barkley Peschel and Connor Duffy of Colliers.

“We received multiple offers and achieved 95% of the asking price, ultimately selling to an investor as part of a 1031 exchange”, said Todd Moore of Colliers. “The property was vacated and seamlessly leased by Baker Hughes, one of the world’s largest oilfield service companies.”

Clarification: An earlier version of this story indicated Baker Hughes owned the property. Baker Hughes leases the property, but it did not buy it.