FLRE Investors, LLC Acquires Office Property In Odessa For $38.86M

FLRE Investors, LLC has acquired an office property located at 16400 State Route 54 in Odessa. The transaction took place on October 25, 2022, with a sale price of $38,860,000. The property spans across 171,752 square feet, resulting in a price per square foot of $226. The deal was facilitated by brokerage firm JLL Capital Markets, with Robbie McEwan, Michael Brewster, Matt McCormack, and Gary Godsey representing the buyer.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $38,860,000
• Square Footage: 171,752
• Price per Square Foot: $226
• Market: Odessa

The involvement of FLRE Investors, LLC in this transaction highlights their continued interest in expanding their office property portfolio. The property located at 16400 State Route 54 offers a significant amount of space, providing ample room for the buyer to establish their operations. JLL Capital Markets, through the combined efforts of Robbie McEwan, Michael Brewster, Matt McCormack, and Gary Godsey, played a pivotal role in facilitating the successful sale of this office asset.