NRG Realty Group has been retained to exclusively market the opportunity to acquire a Single Tenant Net Lease (STNL) industrial outdoor storage property in the heart of the Permian Basin region of West Texas. The property, leased to Pason Systems USA Corp. (“Pason”), is situated on 3.65 acres less than one mile from Interstate 20 in Midland, TX—a location synonymous with high demand for industrial facilities supporting the robust oil and gas industry.
Pason is a leading energy services and technology company. They develop and deliver high-value hardware, software, and services, primarily for the oil and gas drilling industry in 12 countries. The lease is guaranteed by Pason US Holdings Corp. which is a wholly owned subsidiary of Pason Systems Inc., a publicly traded entity in Canada with a market cap of $1.07 Billion (CA$). Through nine (9) months ending 10/31/24, Pason had generated over $100mm (CA$) in net income on over $300mm (CA$) in revenue.