Current Tenant & Lease Structure

Tenant – GJR Meyer Services, Inc.

GJR Meyer Services, Inc. is a premier manufacturer of well control equipment, providing oilfield equipment and services to major domestic and international markets from its various locations near international ports. The company boasts a comprehensive Rental Fleet available at eight domestic sites, catering to every oil play in the United States and facilitating international shipments to countries including Argentina, Australia, Canada, Gabon, New Zealand, South Africa, Suriname, Saudi Arabia, Colombia, Mexico, and Peru.” - Source, https://www.meyernow.com

Rate – Current Base Rent is $9,000 per month through April 2026 with 3% annual increases through the end of the term.

Commencement Date – Current lease began May 1, 2025; however, Tenant has occupied the Leased Premises since March of 2022.

Term Remaining – Primary Term expires April 30, 2030.

Lease Structure – Lease is structured on a NNN basis where Landlord is responsible for the foundation, exterior walls, roof, and other structural components. Tenant is responsible for taxes, insurance, utilities and all other maintenance. Regarding HVAC system, Tenant is responsible for repairs up to $3,000 annually and Landlord will pay any amount above $3,000. (New unit installed in 2024.)