AUCTION
TEXAS REAL ESTATE
Thursday June 18th 2009
#11 – RETAIL CENTER
Featuring: 19 Properties ~ 3 Absolute Harris, Fort Bend, Tarrant and Brazoria Counties Retail Centers • Office Buildings Commercial Land • Commercial Reserves Waterfront Barge Terminal • Former Restaurant
(713) 722-1250 www.clay-co.com
AUCTION Westchase Hilton, 9999 Westheimer, Houston, Texas 77042 Thursday, June 18, 2009 at 2:00 P.M.
PROPERTY # 1* 2 3 4 5 6 7 8 9 10 11 12* 13 14 15 16 17* 18
PROPERTY DESCRIPTION 26,822 SF/Commercial Land 5.35 Acres/Commercial Land 2.7 Acres / Commercial Land 10.6 Acres / Commercial Land 2.4507 Acres/Commercial Reserve 3.2075 Acres/Commercial Reserve 12 Acres/Waterfront Barge Terminal 20,250 SF Multi-Purpose Building 4.2 Acres / Commercial Land 7.42 Acres / Commercial Land 26,151 SF Retail Center ±2500 SF Office Building ±3,647 SF Office Building 4.2 Acres / Commercial Land ±108,509 SF Office Building SOLD! 8.1 Acres/Commercial Land 4.7 Acres /Multi-Use Land 30,504 SF Retail Center
PROPERTY ADDRESS North Eldridge at FM 1960, Houston, TX 77065 14606 FM 2100, Crosby, TX 77532 Ella Blvd at Richey Rd, Houston, TX 77090 Ella Blvd at Richey Rd, Houston, TX 77090 FM 521 at Southern Colony Ave, Fort Bend,TX 77583 FM 521 at Horse Chestnut Creek, Fort Bend,TX 77583 936 E. Floodgate, Freeport, TX 77541 101 Franklin, Houston, TX 77002 1302 Humble Westfield, Houston, TX 77073 West Little York, Houston, TX 77449 6215 Harrisburg Blvd, Houston, TX 77011 215-219 W Sealy, Alvin, TX 77511 211 W Sealy, Alvin, TX 77511 Bammel Rd, Houston, TX 77073 3400 Montrose, Houston, TX 77006 Westheimer Rd at Synott Rd, Houston, TX 77077 N. Eldridge Pkwy, Houston, TX 5010 Louetta Rd, Spring, TX 77679
Thursday, June 25, 2009 at 2:00P.M. ONSITE 19
±7,000 SF Former Bennigan’s Restaurant
6540 Camp Bowie Blvd, Fort Worth, TX 76116
* Absolute Sale
Call (713)722-1250 for a complete property information package. www.clay-co.com
PROFILE
COMPANY
Clay & Company is a Houston-based commercial
real estate auction/brokerage company serving the needs of governmental agencies, financial institutions, insurance companies, and individuals throughout the State of Texas. The company was formed in July of 1991 by Timothy K. Clay. Mr. Clay is a 26-year veteran of the Texas commercial real estate market and prior to forming the company spent six years with Fuller Real Estate Services. While with Fuller, Mr. Clay became involved with real estate auctions in order to develop a more expedient alternative to disposing property. He has been involved in over 80 commercial real estate auctions with sales totaling over $500 million. Clay & Company’s key personnel include Timothy K. Clay, President; Amy C. Silvey, Vice President; Brenna Rektorik, Office Manager; Kevin Dalrymple, Director of Sales; Katie Dalrymple, Marketing Director. Clay & Company’s clients include the Small Business Administration, Washington Mutual, GE Capital, Compass Bank, First Interstate Bank of Texas, N.A., Wells Fargo Bank, N.A., the United States Bankruptcy Courts and individual property owners.
Our
Timothy K. Clay was born and raised in Monroe, Louisiana. He attended Louisiana Tech University in Ruston, Louisiana, before transferring to Louisiana State University in Baton Rouge where he graduated with a Bachelor of Arts degree in Marketing.
Mr. Clay entered the real estate business in 1982. He is a licensed Texas Real Estate Broker and licensed Texas Real Estate Auctioneer. In 1988 and 1989, while working for Fuller Real Estate Services, he received the “Tops in Texas” Award for Outstanding Commercial Real Estate Sales. In 1991 Mr. Clay founded the commercial real estate auction firm, Clay & Company. Mr. Clay is an avid golfer and lives in northwest Houston with his wife Debra.
Amy Silvey currently serves as Vice President for Clay & Company and is a Licensed Texas Real Estate Agent. Prior to joining Clay & Company, Mrs. Silvey spent seven years in the banking industry developing commercial services. Mrs. Silvey’s responsibilities include inside and outside sales as well as coordinating auctions. She received her Bachelor of Science Degree in Finance from Louisiana Tech University in Ruston, Louisiana. Ms. Silvey lives in Pearland.
MISSION
Clay & Company will provide our clients with the highest quality commercial real estate services. We will do this through honesty, integrity and passion for excellence. Timothy K. Clay, President
Texas Broker/Auctioneer Texas Broker License #0315192 Auctioneer License #10251
Amy C. Silvey, Vice President
Licensed Real Estate Agent Kevin Dalrymple, Director of Sales Licensed Real Estate Agent
Katie Dalrymple, MarketingDirector
Brenna Rektorik, Office Manager
#1 - COMMERCIAL LAND North Eldridge at FM 1960 Houston, Harris County, TX 77065 Key Map 368Z
®
Description: 26,882 SF tract located immediately north of the northwest corner of Eldridge Parkway and FM 1960 in northwest Houston. Surrounded by new retail and apartments making this tract well-suited for a variety of commercial purposes. Adjacent to former Eckerd’s. This property is being sold absolute with no minimum and no reserve.
! E T U L ABSO
Terms: Cash Reserve Price: ABSOLUTE
#2 - COMMERCIAL LAND 14606 Crosby-Lynchberg Road (FM 2100) Crosby, Harris County, TX 77532 Key Map 419L
®
Description: 5.3455 acres (232,850 SF) well-located on Crosby’s main thoroughfare across from Wal-Mart and Crosby High School near CVS and Walgreens. Utilities Available. Well-suited for office-condo, retail, hospitality, medical, or restaurant.
Terms: Cash Reserve Price: $4.95/SF ($1,152,607.00)
#3 - COMMERCIAL LAND Ella Boulevard at Richey Road Houston, Harris County, TX 77090 Key Map 332X
速
Description: 2.7 acres at the pending southwest corner of Ella Boulevard and Richey Road Extension. MUD #189 has utilities adjacent to the site. Property taxes currently under $30.00 per year because of an agricultural exemption. Commercial site (apartment, retail, other) in active growth area. Minimum price is well below market value making this an excellent investment opportunity. Terms: Cash Reserve Price: $229,672.95 ($1.95/SF)
#4 - COMMERCIAL LAND Ella Boulevard at Richey Road Houston, Harris County, TX 77090 Key Map 332X
速
Description: 10.6 acres at the pending northwest corner of Ella Boulevard and Richey Road Extension. MUD #189 has utilities adjacent to the site. Property taxes currently under $30.00 per year because of an agricultural exemption. Commercial site (apartment, retail, other) in active growth area. Minimum price is well below market value making this an excellent investment opportunity.
Terms: Cash Reserve Price: $758,650.20 ($1.65/SF)
#5 - COMMERCIAL RESERVE FM 521 at Southern Colony Avenue Fort Bend, Fort Bend County, TX 77583 Key Map 691B
速
Description: A 2.4507-Acre (106,752 SF) Commercial Reserve located at the entrance to the Southern Colony development in Fort Bend County. Wet & dry utilities are available and capacity for this site is determined and available. Seller financing makes this an excellent investment opportunity. Terms: Seller Financing Available. 20% Down, 20-year Amortization, 7% Interest with a 3-year balloon Reserve Price: $208,167.36 ($1.95/SF)
#6 - COMMERCIAL RESERVE FM 521 at Horse Chestnut Street Fort Bend, Fort Bend County, TX 77583 Key Map 691B
速
Description: 3.2075-Acre (139,719 SF) Commercial Reserve Corner in southern Fort Bend County at the entrance to the Southern Colony development. Wet & dry utilities are available and capacity for this site is determined and available. Excellent investment opportunity with seller financing.
Terms: Seller Financing Available. 20% Down, 20-year Amortization, 7% Interest with a 3-year balloon Reserve Price: $314,367.08 ($2.25/SF)
#7 - WATERFRONT BARGE TERMINAL 936 East Floodgate Freeport, Brazoria County, TX 77541 Key Map 911W
速
Description: A 12-acre waterfront barge terminal with 1,400 feet of steel bulkhead on the Brazos River diversion channel. Located at the intersection of Highway 288 and Highway 36 in Freeport near the inter-coastal waterway and the Gulf of Mexico. Well-suited for a barge terminal or a trucking operation. Improvements include pipe storage racks, a 3,048 SF operations office, concrete docks, loading ramps and fencing. Terms: Cash Reserve Price: $1,200,000 ($2.29/SF)
#8 - COMMERCIAL BUILDING 101 Franklin Avenue Houston, Harris County, Texas 77002 Key Map 493L
速
Description: Two-story 20,250 SF building one block west of downtown Houston. Built in 1964 and was renovated, upgraded and expanded in 1997. Lot is 17,711 SF with frontage on Washington, Franklin and Elder. The property has an upstairs loft and a fully built-out yoga studio. Great site for law offices, restaurant/bar, yoga or dance studio, art gallery, or showroom/retail. Terms: Cash Reserve Price: $950,000.00
#9 - COMMERCIAL LAND 1302 Humble Westfield, Houston, Harris County, TX 77073 Key Map 332M
®
Description: 4.1561 acres (181,043 SF) with 85.6 feet of frontage along Bammel Road. Site has easy access to I-45, the Hardy Toll Road, and the Sam Houston Parkway. Located in a rapidly developing area. The neighborhood has a mix of freestanding light industrial uses, single-family development, and schools. Estate sale. Must liquidate now! Terms: Cash Reserve Price: $226,303.75 ($1.25/SF)
#10 – COMMERCIAL LAND West Little York Just west of Barker Cypress Katy, Harris County, TX 77449 Key Map 407S
®
Description: 7.42 acres (322,344 SF) just west of the intersection of West Little York and Barker Cypress. Excellent location in northwest with great access to US Highway 290, Interstate 10, and State Highway 6. Tremendous residential growth in the neighborhood. Well-suited for office warehouse, storage, or industrial building. Terms: Seller Financing Available to qualified buyers. 25% Down, 8% interest, 20-year amortization, 5-year balloon Reserve Price: $950,914.80 ($2.95/SF)
#11 – RETAIL CENTER 6215 Harrisburg Boulevard Houston, Harris County, TX 77011 Key Map 494U
®
Description: 24,783 SF newly designed retail center with 13 suites. Currently has 3 tenants and is an excellent opportunity for owner/ user. Well-below replacement costs. Excellent upside potential for new owner. Located on the new METRO East Corridor light rail currently under construction and just east of the new Dynamo Stadium.
Terms: Cash Reserve Price: $1,700,000.00 (Less than $70/SF)
#12 – OFFICE BUILDING 215-219 West Sealy Alvin, Brazoria County, TX 77511 Key Map 695R
®
Description: Approximately 2,500 SF office property currently unoccupied as a result of Hurricane Ike. Has been reroofed and is otherwise a shell condition needing interior completion. Located in central Alvin at the corner of Sealy Street and Hardie Street with good accessibility to major thoroughfares to Angleton and Houston. The building is being sold absolute with no minimum and no reserve. Terms: Seller Financing Available to qualified buyers. 25% Down, 8% interest, 20-year amortization, 5-year balloon Reserve Price: ABSOLUTE!
! E T U ABSOL
#13 – OFFICE BUILDING 211 West Sealy Alvin, Brazoria County, TX 77511 Key Map 695R
®
Description: ± 3,647 SF multi-tenant office building that is currently 88% occupied. Located in central Alvin at the corner of Sealy Street and Hardie Street with good accessibility to major thoroughfares. This building has stable rents and a positive cash flow making this an excellent investment opportunity. 740 SF currently available for user/investor. Terms: Seller Financing Available to qualified buyers. 25% Down, 8% interest, 20-year amortization, 5-year balloon Reserve Price: $167,000
#14 – COMMERCIAL LAND Bammel Road Houston, Harris County, TX 77073 Key Map 332L
®
Description: ±4.23 acres (184,271 SF) with 292.35 feet of frontage along the north line of Bammel Road. Welllocated tract near the intersection of I-45 and FM 1960 just west of the major thoroughfare Imperial Valley Drive. Site has easy access to I-45, the Hardy Toll Road, and the Sam Houston Parkway, and is well-suited for a church, hotel, or light industrial development. Estate sale. Must liquidate!
Terms: Cash Reserve Price: $359,328.50 ($1.95/SF)
#15 – RETAIL BUILDING 3400 Montrose Houston, Harris County, TX 77006 Key Map 493S
®
Description: This ten-story landmark building is an excellent redevelopment opportunity in an outstanding location immediately west of downtown Houston. The ±108,509 SF office building Property is approximately 60% leased with a gross annual income of about $1 million. The top floor penthouse features tremendous views of Houston. Excellent opportunity to redevelop one of Houston’s most distinctive buildings. Terms: Cash Reserve Price: $4,900,000 (Only $50.00/SF)
! D SOL
#16 – COMMERCIAL LAND Westheimer Rd at Synott Rd Houston, Harris County, TX 77077 Key Map 488U
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Description: ±8.1 acres located along the north side of Westheimer (FM 1093) at the Synott Road intersection between Dairy Ashford and Eldridge Parkway. 2 Tracts: 7.1376 acres (310,913 SF) and 1.0430 acres (45,433 SF) with over 1000 feet of frontage on Westheimer. The Texas Department of Transportation will allow a curb cut along the 7 acre Westheimer frontage that aligns with Synott creating two corners at a lighted intersection. Well-suited for fast food restaurant, bank, car wash, and other commercial or retail operations. Terms: Seller financing available to qualified buyers. 35% Down, 7% interest, 20-year amortization, 5-year balloon Reserve Price: $4,793,000 ($13.50/SF)
#17 – MULTI-USE LAND North Eldridge Parkway Houston, Harris County, TX 77429 Key Map 368H
®
Description: 4.77 acres on North Eldridge adjacent to the Lismore Lake Estates in northwest Houston. In an excellent northwest Houston area with explosive growth. Site includes a 17-acre detention pond. Price based on 4.77 usable acres. Priced to sell. Well-suited for estate home.
! E T U L ABSO
Terms: Cash Reserve Price: ABSOLUTE!
#18 – RETAIL CENTER 5010 Louetta Road Spring, Harris County, TX 77379 Key Map 331E
®
Description: 30,504 SF Retail Center at Louetta and Kuykendahl. Well-located in a high traffic area of Spring. Center is 56% occupied. Strong upside potential for new investors and discounted for immediate sale. Excellent opportunity for owner/user.
Terms: Cash Reserve Price: $1,800,000.00 ($60.00/SF)
BROKERAGE PROPERTIES Offered Exclusively by Clay & Company PROPERTY DESCRIPTION
PROPERTY ADDRESS
16,600 SF Multi-Use Building
1501 Blue Bell, Brenham, TX 77833
2,052 SF Commercial Retail Building
700 East Quinlan Parkway, Quinlan, Texas 75474
1.3188 Acres Beltway 8 Frontage Land FORECLOSURE!
W Sam Houston Pkwy N, Houston, TX 77064
2.72 Acres Commercial Land
North Gessner @ Phillippine, Houston, TX 77040
3.57 Acres Commercial Land
Montgomery @ Glen Mont, San Antonio, TX 78239
4.1 Acres Commercial Land
West Road and East Commons Dr, Houston, TX 77095
4.6 Acres Commercial Land
Park Grove Dr, Houston, TX 77450
6.3 Acres Commercial Land
Easton Commons Dr and Hwy 6, Houston, TX 77095
6.7 Acres Commercial Land
FM 529 & Barker Cypress, Houston, TX 77449
6.75 Acres Commercial Land
North Eldridge @ Crossridge, Houston, TX 77065
14.43 Acres Commercial Land
Fry Road and Longenbaugh, Cypress, Texas 77433
59.5 Acres Commercial Land
REDUCED!
Highway 290 & Zube Rd, Houston, TX 77325
73.79 Acres Commercial Land
FM 529 & Katy Hockley Cut Off Rd, Houston, TX 77493
157 Acres Commercial Land
Clay Road and Katy Hockley Cut Off, Katy, Texas
Call (713)722-1250 for a complete property information package. www.clay-co.com
TERMS & CONDITIONS INFORMATION The Auction Information Office is open Monday through Friday from 9:00 A.M. to 5:00 P.M. Address: 9821 Katy Freeway, #1025 Houston, TX 77024-1210 Telephone: (713)722-1250 Outside Houston: 1-800-354-2061 Fax: (713)722-1260 World Wide Web: http://www.clay-co.com
room where he/she will endorse a certified or cashier’s check to the seller or “Title Company” in the amount specified in the Auction catalog. This earnest money must be increased by cashier’s check or personal check to ten percent (10%) of the purchase price unless otherwise stated. Each sale will close as specified in the Purchase and Sale Agreement, at which time each Purchaser will pay the balance of the purchase price. Specific closing dates will be by each specific Purchase and Sale Agreement.
OPEN HOUSE INSPECTION HOURS
AUCTION DAY DEPOSIT ($5,000)
The improved properties will be open for inspection as noted in the individual property listings.
BIDDER PACKAGES
An information package (as amended or supplemented) for the Property to be sold at the Auction may be obtained by the prospective bidder. A Bidder’s Package may contain the following types of information regarding such property: (a) Survey, Site Plans and/or Tract Maps (b) Property Tax Information (c) Preliminary Title Commitment, as available (d) Sample Purchase and Sale Agreement. These packages are not designed to replace the bidder’s own due diligence efforts with respect to Auction Properties.
AUCTION REGISTRATION
Registration is necessary to be eligible to bid. Registration will begin at the Auction site one hour prior to each Auction. Pre-registration is also available at www.clay-co.com. A certified or cashier’s check in the amount of $5,000 must be presented on Auction Day in order to complete the bidder registration process, Checks should be made payable to the Clay & Company. Only successful bidders will be required to surrender money at the Auction.
ABSOLUTE OR RESERVE SALE
ABSOLUTE: Those certain listed properties which will be sold to the highest bidder regardless of price. RESERVE: Those certain listed properties which will be sold to the highest bidder subject to the high bid reaching the stated reserve price. Further, those certain listed properties wherein there is no disclosed reserve and the high bid price is subject to the Seller’s acceptance.
SUCCESSFUL BIDDER REQUIREMENTS
The successful high bidder on each property will be required to sign an Earnest Money Contract immediately upon conclusion of the bidding verifying the amount bid and the property purchased. The successful high bidder will be escorted to the contract signing
Each registered bidder will be required to have a $5,000 cashier’s check or money order to complete registration and be able to bid. Check should be made payable to Clay & Company.
OCCUPIED PROPERTIES
Some of the properties in the auction might currently be occupied and may continue to be occupied at the close of the sale. Those sales will close subject to such tenancies. Every reasonable effort will be made to make the occupied properties available for inspection prior to the auction. However, no sale will be contingent upon inspection of the properties after the auction.
AUCTION OFFERING
Properties are sold “As Is, Where Is” with all faults, with no warranties or representations whatsoever, expressed or implied, including, without limitations, as to conditions, fitness for any particular purpose or merchantability, compliance with governmental laws, ordinances or regulations.
BUYER’S PREMIUM
A buyer’s premium of 4% of the purchase price of each Property shall be paid to Clay & Company by the Buyer in cash at the closing of the transaction.
AUCTION PROCEDURE
The information contained in this catalog and all related materials are subject to the terms and conditions of the specific Purchase and Sale Agreement and the terms of sale as specifically described in the Bidder Information Packet. These properties are being sold on an “As Is, Where Is” basis with all faults. Your complete inspections of each property is recommended. Announcements made by the Auctioneer on Auction Day will take precedence over all printed materials. Conduct of the Auction and increments of bidding are at the discretion of the Auctioneer. Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the Auction activities, creating a nuisance, canvassing, soliciting or other reasons deemed necessary by the Auctioneer. Auction Information Offices and all licenses employed by or associated with Auction Information Offices represent the Seller in the sale of these properties.
BROKER PARTICIPATION INVITED
A 3% commission will be paid to the licensed real estate broker, whose prospect pays and closes on the property. To qualify for the commission, the real estate broker must:
(a) Be a licensed real estate broker who (i) is not prohibited by law from being paid such commission, and (ii) who will abide by the National Association of Realtors Code of Ethics. (b) First register the prospect by mail, telefax, or at www.clay-co.com on a TYPED Broker Registration Form supplied by the Auction eer (see below), or TYPED on brokerage company stationary with substantially the same format as the Broker Registration Form, including original signatures of both the broker and the prospect. Such Broker Registrations must be RECEIVED by HOUS TON AUCTION INFORMATION OFFICE, on or before Monday, June 15, 2009 at 5:00 P.M. Fax Number: (713)722-1260. Neither Seller nor Auctioneer is responsible for delay or failure to meet the deadline if Broker relies on this or any other method of delivery. (c) Attend the Auction with the prospect(s). A complete registration file on all prospects will be maintained. No broker will be recognized for a prospect who has been previously contacted by the Seller or its representatives. Commissions will be paid upon closing by the Seller. No commission will be paid by the Seller if the Broker or member of his/her family is participating in the purchase of the property as a principal and an affidavit will be required that the agent is serving only as a broker and not as a principal. There can be NO EXCEPTIONS to this procedure. IF A COOPERATING BROKER HAS NOT MET ALL OF THE REQUIREMENTS, NO COMMISSION WILL BE PAID TO THE COOPERATING BROKER, EVEN IF THEIR PROSPECT PURCHASES A PROPERTY.
DISCLAIMER
The information contained in this catalog is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller or its agents. ALL ACREAGE, SQUARE FOOTAGE, DIMENSIONS, AND PROPERTY DATA ARE APPROXIMATE. Any of the properties listed may be withdrawn or modified without notice at anytime. Announcements made at the Auction take precedence over all other advertising, promotional/ publicity statements, Bidder’s Packages (as amended and supplemented) or other materials.
Real Estate Auctions/Brokerage 9821 Katy Freeway, Suite 1025 Houston, Texas 77024-1210 800-354-2061 Toll Free 713-722-1250 713.722.1260 FAX www.clay-co.com
~ Featuring ~ 19 Properties 3 Absolute #19 - COMMERCIAL BUILDING
Thursday, June 25, 2009 at 2:00pm ONSITE 6540 Camp Bowie Boulevard Fort Worth, Tarrant County, TX 76116 Mapquest 074P
®
Description: This is a former +/- 7,000 SF Bennigan’s restaurant on +/- 40,000 SF of land. This site is located on the highly traveled and historic Camp Bowie Boulevard. Surrounded by retailers such as Pier 1, Kroger, La Madeleine, Jason’s Deli, Taco Cabana, and Good Year. With the reserve price well-below appraisal district value, it is an ideal opportunity for restaurant or pad users who are looking to join the rebirth of a well-known shopping district in Fort Worth. Terms: Cash Reserve Price: $700,000
AUCTION
For information on selling your property at the next Clay & Co. auction, please call (713) 722-1250 or visit us at www.clay-co.com