Capitalizing on an Off-Market Development Opportunity

This oilfield service company maintains a significant presence in the Permian Basin.

Challenge:

  • Our client maintained four facilities spread over a 75-mile radius, making it difficult for one particular line of business to operate efficiently and grow.
  • The company wanted to consolidate sites, but there were no suitable buildings on the market that would meet their geographic and size requirements.

Merit Solution:

  • Merit Advisors led meetings with the company’s C-suite as well as the operations, IT, procurement and legal departments to ensure strategic alignment.
  • Our real estate team prepared scoping reports on multiple off-market sites that could potentially meet our client’s needs.
  • Once the site was selected, Merit led build-to-suit RFPs outlining requirements for the new facility, then qualified and negotiated with the most appropriate suitor.

Result:

  • Construction was completed within the requested timeframe and with no complications around lease terms.
  • All excess real estate was subleased before the built-to-suit lease commenced.

3 Offices

Consolidated into 1

Rewards of Merit

Explore our case studies to see how Merit helps energy companies unlock trapped value.

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