Marcus & Millichap Inc.
05/15/2026 | Press release | Archived content
Marcus & Millichap Facilitates Sale of Single-Tenant Industrial Asset in Midland, Texas
Press Releases
Marcus & Millichap Facilitates Sale of Single-Tenant Industrial Asset in Midland, Texas
May 15, 2026
LinkedIn Email App
MIDLAND, Texas, May 15, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Coastal Pump & Equipment, a 12,000-square-foot industrial property in Midland, Texas.
"Midland continues to attract investor interest due to its strong ties to the oil and gas industry and the region's long-term economic fundamentals," said Davis Cagle, senior director investments. "This transaction generated multiple offers from out-of-state investors and ultimately closed with a private buyer completing a 1031 exchange and seeking higher returns in a cash-flowing industrial asset." said Chase Beasley, associate investments.
Davis Cagle, along with Chase Beasley and Adam Abushagur, investment specialists in Marcus & Millichap's Dallas office, exclusively marketed the property on behalf of the seller.
The property is located at 10616 W. County Road 75, just north of Texas State Highway 191 between Midland and Odessa. Built in 2019, the single-tenant industrial asset consists of approximately 6.66 acres and is leased to Coastal Production Systems LLC, a water transfer equipment and service provider founded in 2006. The asset has approximately four years remaining on its triple-net lease with 2% annual rent increases. The transaction closed at 96% of the original list price following multiple offers from out-of-state investors.
"Midland continues to attract investor interest due to its strong ties to the oil and gas industry and the region's long-term economic fundamentals," said Davis Cagle, senior director investments. "This transaction generated multiple offers from out-of-state investors and ultimately closed with a private buyer completing a 1031 exchange and seeking higher returns in a cash-flowing industrial asset." said Chase Beasley, associate investments.
Davis Cagle, along with Chase Beasley and Adam Abushagur, investment specialists in Marcus & Millichap's Dallas office, exclusively marketed the property on behalf of the seller.
The property is located at 10616 W. County Road 75, just north of Texas State Highway 191 between Midland and Odessa. Built in 2019, the single-tenant industrial asset consists of approximately 6.66 acres and is leased to Coastal Production Systems LLC, a water transfer equipment and service provider founded in 2006. The asset has approximately four years remaining on its triple-net lease with 2% annual rent increases. The transaction closed at 96% of the original list price following multiple offers from out-of-state investors.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on May 15, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 18, 2026 at 22:05 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]