Former Orion Drilling Property SOLD to CoFlow Compression LLC
CORPUS CHRISTI, Texas – Cravey Real Estate Services, Inc. has announced the sale of the 13.62-acre former Orion Drilling property located at 642A Flato Rd in Corpus Christi, TX. The property, which included four buildings totaling 34,165 square feet, was sold recently, to CoFlow Compression LLC by Orion Drilling Co LLC, which previously filed for bankruptcy. The former Orion Drilling property had been sitting idle for several years with no activity until the sale of the property was facilitated by Cravey Real Estate Services, Inc. associate John Foret, who represented the Buyer in this transaction. The terms of the deal, including the sale price, were not disclosed.
George Clower with Clower Company represented the Seller. Despite the bankruptcy filing, Orion Drilling Co LLC was able to complete the sale of the property to CoFlow Compression LLC with the assistance of Clower and Cravey Real Estate.
CoFlow Compression is a specialty equipment rental company. Their rental fleet consists of air compressors ranging in size from 375CFM to 1600CFM and 1600CFM 100% oil free. They also offer auxiliary fuel tanks, desiccant dryers, hoses, manifolds, etc. our fleet consists of about 40 pieces of equipment currently and has only three employees currently. The specialty rental company could be considered “phase 1”. CoFlow compression also plans on offering rentals, sales, and service on the Gas compression side of the industry. They also have plans to offer custom fabricated air and gas compressor packages. The main customer base will be the many refineries and chemical plants in south Texas who utilize large volumes of compressed air. Their compressors are also used during the pipeline construction process as well as any large-scale manufacturing that utilized compressed air as a utility.
About Cravey Real Estate Services, Inc.
Cravey Real Estate Services is a full service commercial and industrial real estate company based in Corpus Christi, Texas. We sell, lease, and manage Commercial, Industrial, Warehouse, Office, Retail, Shopping Centers, Land, and Investment Properties in Texas.
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