Midland, Texas, a city in the heart of the Permian Basin, offers a unique blend of entrepreneurial spirit and small-town charm, making it an ideal location for retail space for lease. With a population of around 130,000, Midland boasts a strong economy driven by the oil and gas industry, as well as a growing presence of telecommunications and distribution companies. The city's infrastructure is well-equipped to support businesses, with Midland International Air and Space Port, Midland Airpark, and an extensive network of highways and roads. Additionally, Midland is home to several major employers, including Chevron, Occidental Petroleum Corporation, and Pioneer Natural Resources, as well as healthcare institutions like Midland Memorial Hospital and educational institutions such as Midland College. The city's attractions, including the Permian Basin Petroleum Museum and The Museum of the Southwest, make it an attractive destination for both locals and visitors.
For those looking to lease retail space in Midland, there are currently 20 listings available, with average annual rent per square foot at $25 USD. The smallest available space is 250 square feet, while the largest is 18,264 square feet. In addition to retail space, Midland also offers a range of other property types, including restaurants, medical offices, and office space. Restaurants in Midland benefit from the city's strong economy and growing population, while medical offices are well-supported by the presence of Midland Memorial Hospital. Office space in Midland is ideal for companies looking to establish a presence in the oil and gas industry, with many major employers already based in the city. Overall, Midland offers a unique combination of small-town charm and big-city amenities, making it an attractive destination for businesses and individuals alike.
What is the average cost per square foot for retail space in Midland?
In Midland, the average annual rent per square foot for retail space is $25 USD, making it an attractive option for businesses looking to establish a presence in this oil and natural gas production hub.
How do anchor tenants affect surrounding retail space leases?
In Midland, Texas, anchor tenants, such as department stores or supermarkets, have a significant impact on surrounding retail space leases, as they attract a large customer base and create a hub of activity, increasing foot traffic and desirability for nearby retail spaces, which can lead to higher lease rates and a more competitive market, with 20 available listings, averaging $25 USD per square foot, and ranging in size from 2,982 square feet to 18,264 square feet.
