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ERES Facilitates Sale of Two Industrial Portfolios in Western North Dakota

Recent transaction volume indicates real estate-based capital is once again flowing back into Bakken energy markets


MINOT & WILLISTON, ND — September 20, 2019 — Energy Real Estate Solutions (ERES), a full-service real estate firm providing brokerage, development, property management, construction management, investment and consulting services to North and South American energy markets, announced today the completed sales of two industrial property portfolios in the heart of Bakken oil and gas activity. Located in Minot and Williston, ND, the transactions total approximately 170,122 square feet and 17.26 acres across seven buildings. With this recent transaction, ERES has now closed over $45.9 million in industrial contract value in the past 12 months.

The first industrial property portfolio, located at 309 and 403 40th Avenue NE, Minot, ND and 2000 49th Street West, Williston, ND, totals approximately 97,376 square feet and 9.50 acres across four buildings and closed on July 1, 2019.

The second industrial property portfolio, located at 5051, 5057 and 5068 Owan Industrial Park Drive, Williston, ND, totals approximately 72,746 square feet and 7.76 acres across three buildings and closed on August 15, 2019.

Per Costar, (which only provides reported transactions) so far in 2019 there have been 27 closed industrial property sales in western North Dakota, with six more under contract/pending. Out of the 325,010 square feet sold, nearly half came from ERES’ recent transactions.

“Increased oilfield activity and workforce population has brought private equity and institutional capital back into energy real estate markets,” says ERES CEO Mike Elliott. “These recent sales, as well as our total transaction volume over the past year, are proof that there is a lot of opportunity in the Bakken – which offers returns higher than the national average.”

There are several other large commercial and multifamily portfolios under contract across domestic energy markets including West Texas, Oklahoma, Colorado and Wyoming, with a large percentage being Western North Dakota. Last month ERES announced the completed sale of a 202-unit apartment community located in Watford City, ND, bringing the firm’s 18-month total multifamily closings to over $58.4 million.

For information on the ERES brokerage team and its shale play market capabilities, please visit

Energy Real Estate Solutions (ERES) is a full-service commercial real estate firm focused on helping energy companies and investors maximize their real estate portfolios. ERES provides brokerage, investment, development, project management, property and asset management, workforce housing, and consulting services in and around the world’s most active energy and opportunistic markets. The firm currently operates out of seven offices located in Denver, CO (Headquarters), Fort Worth, TX, Houston, TX, Midland, TX, New York, NY, Williston, ND, and Neuquén, Argentina. For more information, visit

Julia DuVal Ziegler
Director of Marketing