Archway Properties is breaking ground on a 28,222-sf turnkey build-to-suit for TEAM Inc., an integrated, digitally-enabled asset performance assurance and optimization solutions company seeking to establish a brick-and-mortar presence in the Permian Basin's petroleum-rich fields of West Texas.
The Houston-based developer and TEAM have signed a long-term lease for the project, which will deliver in early December. The office/warehouse will be developed at 196 Allen Brown Rd. on a 5.2-acre tract in Leeco Industrial Park in Odessa.
TEAM, headquartered in Sugar Land, Texas, has locations in more than 20 countries. The Odessa facility will feature a 7,000-sf office for the firm's engineers and technicians plus 21,222 sf of warehouse and light manufacturing space, which will be outfitted with a five-ton bridge crane and overhead coiling doors for drive-in access.
"TEAM needed a facility in the Midland-Odessa area to service its pipeline integrity and maintenance customer base in the Permian Basin," says Ben Allen, an Archway Properties' partner.
Archway Properties has allowed for future expansion when the tenant is ready. The single-story office/warehouse and storage yard will encompass 3.5 of the available 5.2 acres, building in room to grow as needed. The site plan calls for 39 parking spaces and a truck staging lane looping around the building.
"TEAM's core business at the Odessa facility will be somewhat resistant to fluctuations in the oil market because existing pipelines still have to be maintained regardless of production," Allen says. "That built-in resiliency enables us to move forward with a BTS project for a new client despite present-day challenges."
Archway Properties' turnkey BTS lease program has been an integral part of its development platform since its inception in 2002. The developer specializes in ground-up construction and renovation of industrial BTS projects in Texas, ranging from 20,000 sf to more than 200,000 sf.
"Archway's experience with manufacturing facilities and its flexibility to partner with general contractors statewide provided the advantages that TEAM needed," Allen says. Joe R. Jones Construction Inc. of Weatherford, Texas, is Archway's general contractor for the Odessa project.
About Archway Properties
With offices in Houston and Dallas, Archway Properties offers a broad range of real estate services to its clients and partners including acquisition, development, project management and asset management. Our principals have successfully completed projects with a total value in excess of $2 billion. For more information, please visit www.archwayprop.com.
