October 11, 2018
Rod and Tubing Services moved from property owner to tenant in its Bryan, TX industrial facility. The seller/tenant, which specializing in inspecting, testing and reconditioning tubulars and sucker rods for oilfield production companies, entered into a sale-leaseback agreement with private investor PPL Properties LLC.
The sales price was not disclosed. The asking price was $6.2 million, at an 8% cap rate.
The 48,765-square-foot property is situated on 45 acres at 7932 SH 21 West. Josh Lass-Sughrue, Jason Ridenbaugh and John Ferruzzo of NAI Partners represented Rod and Tubing in the transaction. The facility serves as Rod and Tubing’s flagship location, and was built between 2006 and 2011.
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