ALVARADO, TX-A western Pennsylvania well drilling company, eyeing the gain from being in the backyard of Texas' Barnett Shale, has leased a 72,617-sf industrial building on 14 acres in Johnson County.
Superior Well Services of Indiana, PA will open doors in early June at 1400 Highway 67, bringing several hundred jobs to the rural county, Jeff Givens, principal in NAI Huff Partners of Fort Worth, tells GlobeSt.com. Superior Well's chief executives inked a five-year lease for the site, which was marketed at $2.75 per sf, triple net, or $1.9 million to buy. After one year, Superior Well can opt to buy the site.
Givens says "they were out looking in various counties for the right location" when they saw the listing sign. Howell Allen Family LP of El Paso bought the vacant building last summer as a spec investment.
The industrial asset sits 20 miles south of Fort Worth, but it's a strategic operations point for Superior Well's plan to mine new business from Barnett Shale owners. The publicly traded company, founded in 1997, now has 13 service centers servicing 37 states. Just last year, the firm opened doors in Utah, Louisiana, Arkansas and Michigan.
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