HOW THIS AUCTION WORKS

BACK TO AUCTION DETAILS

Kennedy Wilson and Auction.com are pleased to present this online auction event of the Oasis Office Building (the "Oasis"). Kennedy Wilson is the Seller's listing agent and Auction.com will conduct the online auction sale process on www.auction.com in accordance with the Auction Terms & Conditions which are available for review in the online due diligence vault. For complete auction details and registration CLICK HERE (Event ID: B154-127).

Starting Bid $9,000,000

Bid Deposit $50,000

Auction Start Date 04/27/2015, 10:00 AM PDT

Auction Ends 04/29/2015, 10:00 AM PDT

Due Diligence Materials

Due diligence materials are available to prospective bidders via an online due diligence vault hosted by www.auction.com. Prospective bidders will be required to: 1) set up an Auction.com account (no-cost) and 2) execute a confidentiality agreement to gain access to the online due diligence vault of information. All due diligence (including but not limited to: any property tours and review of the non-negotiable Purchase Agreement) must be conducted prior to the auction closing. You may contact Auction.com concerning any due diligence questions.

Auction Registration

Prospective bidders will be required to register online at Auction.com for each asset they intend to acquire and submit a deposit and proof of funds.

  • Bid Deposit-The Oasis auction biddepositamount is $50,000 which canbe satisfied via credit card (Visa/MasterCard),wire transferor cashier's check. If using a credit card, only a hold is placed against your card and it will be releasedfollowing theauction if you are not the winning bidder. Deposits submitted by wire/cashier's check are held by an escrowcompany andwill be refunded to you following the auction per the Auction terms & Conditions if you are not the winning bidder.
  • Proofof Funds- In order to participate in an auction, Sellers require bidders to provide proof of their liquidity inan amountof at least their anticipated maximum bid for the offering. Such liquidity must be in the form ofcash/cash equivalentsand must be available immediately without restriction. Bank statements, brokerage account statements,bank lettersand/or a loan pre-approval letter/term sheet from an approved Auction.com lender (dated within 60 days ofthe auction) are generally acceptable. A line of credit statement may be acceptable only if it is already in place, hasundrawn capacity, and may be funded immediately without bank approval. A loan pre-approval letter/term sheet fromunapproved lenderare generally NOT acceptable. Capital call agreements, investor equity commitments, and the like, areevaluated ona case-by-case basis. The acceptance of any proof of funds documents are made at the sole and absolutediscretion ofAuction.com.

Online Auction

During the live auction period, place your bid amount and click BID NOW. Feel free to contact Auction.com before or duringthe auction process with any questions.

Closing

Within two hours of the auction conclusion, the winning bidder will be contacted by email and phone to go over specifics of the sale, including all documentation involved in the purchase, funding of the earnest money deposit and execution of the purchase agreement.

OASIS OFFICE BUILDING

April 27th–29th, 2015
STATUS: Case Study

SOLD!

Property Details (11929 West Airport Boulevard, Stafford, TX 77477)

Asset Type Commercial
Starting Bid $9,000,000
Bid Deposit Amount $50,000
Property Oasis Office Building
Property Description 193,131 SF Office Building located in Stafford, TX
Assessor's Parcel Number 5360-01-001-0020-910
Square Footage 206,474
Net Rentable Area 193,131
Lot Size (acres) 11.9
Year Built 2008
Number of Buildings  1
Number of Stories  9
Occupancy  30.79(%)
Occupancy As of Date  01/31/2015
Net Operating Income (NOI)  $656,831
NOI As Of Date  12/31/2014
Broker Co-Op  Available*
 Broker Registration
 Please see Terms & Conditions for details
Event Item #  B154-127
Property ID  193028996
Buyer's Premium  5% of Winning Bid Amount (A minimum of $20000  will apply)

Description for 11929 West Airport Boulevard, Stafford, TX 77477
Property showings will be offered on Thursday, April 16th and Thursday, April 23rd between 10:00 AM to 1:00 PM local time. Please contact the listing broker to RSVP.

Built in 2008, the Oasis is a 9-story Class A quality office building with elaborate amenities including a 5-level 646 space parking garage, 7.16 acres of additional land (5.342 acres developable), park-like setting with fountains and an outdoor gazebo pavilion, quality interior finishes and hardware as well as in-place technology (e.g., vertical piping for internet, cable TV, fiber optics). The Oasis is currently 31% leased and occupied. The Atrium Medical Center (a 68-bed LTACH) occupies two full floors and a portion of the first floor. Other tenants include physicians with various specialties.

The Oasis is situated in the heart of southwest Houston with freeway visibility less than 1 mile from US-59. The property is within 30 minutes of two international airports and in close proximity to US-59 which provides quick access to all areas of Houston.  

BUILDING AMENITIES

  • Nine-story Mediterranean style office building with 193,131 SF
  • Centered on a 4.74 acre main parcel for building/garage + 7.16 acres additional land (5.342 acres developable)
  • Structured parking garage with 646 spaces plus ample surface parking spaces available
  • High-end finishes throughout with marbled foyer and corridors with oak paneling
  • Executive conference room on the 9th floor that overlooks an unsurpassed view of downtown Houston
• Complete with grounds, fountains, picnic-tables and pavilions