AUCTION NO RESERVE 11,112 SF OFFICE BUILDING 1024 E Los Ebanos Blvd, Brownsville, TX BIDS DUE BY FEBRUARY 25, 2016 O F F E R I N G M E M O R A N D U M
OFFERING MEMORANDUM THIS IS AN OFFERING MEMORANDUM intended for buyers interested in the Property located at 1024 Los Ebanos Road, Brownsville, TX as more particularly described herein ( Property ). This memorandum contains information pertaining to the Property and has been prepared by Braun Worldbid ( Braun Worldbid ) and TransGlobal Realty Advisors ( Broker ). Although representatives of the seller have reviewed this memorandum, it does not purport to be all-inclusive or contain all of the information that a potential investor may desire. Neither the seller, nor Braun Worldbid, nor broker, make any representation or warranty, expressed or implied, as to the accuracy or completeness of any of the information contained herein. The seller, broker and Braun Worldbid disclaim any liability which may be based on such information, errors therein, or omissions therefrom. All financial data contained herein is unaudited. The information contained herein represents estimates based on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that the actual results will conform to such projections. There is no representation as to environmental condition of the property, or as to any other aspect of the property. PAGE 2
1 Property Overview 2 Market Overview 3 Auction Information 800.784.5884 x7071 BraunWorldbid.com 1230 Rosecrans Ave. Suite 160 Manhattan Beach, CA 90266 FAX: 310.798.8883 Los Angeles San Francisco New York Milwaukee Cleveland Sun Valley Monterey BRE #01900930 in conjunction with JOHN AFLATOUNI, TransGlobal Realty Advisors
The Property 11024 E Los Ebanos Blvd, Brownsville, TX PAGE 4 Information Auction Information Market Overview Property Description
OFFICE BUILDING PROPERTY INFORMATION Location: 1024 E Los Ebanos Blvd, Brownsville, TX Lot Size: 1.17 acres Building Size: 11,112 SF (8,038 SF 1st floor, 3,074 SF 2nd floor) Asphalt parking area Lush landscaping with impressive palm trees Built in 1983 Property Description NO RESERVE Stunning two-story, 11,112 SF contemporary office building on 1.17 acres of prime land. Situated directly on Los Ebanos Boulevard, with excellent visibility and easy access. Located in dynamic, fast-growing Brownsville, home of the largest offshore oil rig platform manufacturer in the world and a future launch site for SpaceX. PAGE 5
INTERIOR PHOTOS: 1024 E LOS EBANOS BLVD Property Description PAGE 6
AERIAL VIEW: 1024 E LOS EBANOS BLVD Property Description PAGE 7
Market Overview 2Brownsville Texas Auction Information Market Overview Property Description PAGE 8
THE MARKET DOWNTOWN BROWNSVILLE, TX Brownsville is the largest city in the Rio Grande Valley with an estimated population of 175,000. The metro-area of Brownsville-Harlingen has a population of 415,000, and when adding McAllen to the metro, the total population is over 1.1M and is the fifth most populous metro in Texas. Market Overview With the implementation of NAFTA and the continued integration of maquila operations ( U.S. or foreign-owned manufacturing facilities that process or assemble components for export), many companies are recognizing the Rio Grande Valley as an excellent location for their regional and corporate-support facilities providing companies with close proximity to their principal manufacturing plants and the emerging new markets in Mexico, Central and South America. Economic Impact of Expanding Local University The University of Texas-Pan American has an enrollment of over 19,000 students and 800 academic staff members. Recently approved, the University of Texas system plans to merge UT- Pan American with UT- Brownsville (17,000 students) to create a new regional university in the Valley with a $20M medical school. It is predicted that the new university would enroll about 28,000 undergraduate students with research expenditures exceeding $11M and an endowment of more than $70M, creating roughly 7,000 new jobs. PAGE 9
Auction Information 4February 25, 2016 PAGE 10 Information Auction Information Market Overview Property Description
BRAUN WORLDBID S AUCTION PROCESS BIDDING AND REGISTRATION In order to bid, you must register and submit your sealed bid and deposit on or before February 25, 2016 at 12PM PT. Highest and best bids are due no later than February 25, 2016 at 12PM PT. Sealed bid forms are available at Braunworldbid.com. Email: Chris@Braunco.com Fax: 310.798.8883 Mail: Braun Worldbid Attention: Los Ebanos 1230 Rosecrans Ave, Suite 160, Manhattan Beach CA 90266 REGISTRATION DEPOSIT TO BID A $50,000 registration deposit to bid must be received by Braun Worldbid no later than February 25, 2016 at 12PM PT. To submit your deposit via cashier s check or wire transfer to Braun Worldbid, see below. WHERE TO SUBMIT YOUR REGISTRATION DEPOSIT Mail your $50,000 cashier s check payable to Federal Title, Inc. to Braun Worldbid, 1230 Rosecrans Ave., Suite 160, Manhattan Beach CA 90266. Attention: Los Ebanos WIRE TRANSFER: Wire your $50,000 deposit to Braun Worldbid (contact us for any further wiring information). EARNEST MONEY DEPOSIT FOR WINNING BIDDERS In total, the buyer will be required to provide ten percent (10%) of their final purchase price upon the opening of the escrow, which will be wired to Federal Title, Inc. BUYER BROKER PARTICIPATION A two percent (2.0%) commission will be paid to any licensed broker who represents and registers a successful buyer. The Broker registration form must be received by February 25, 2016 at 12pm PT to receive the commission. PROPERTY INFORMATION We suggest bidders review all property information prior to Auction Day. The property information is a compilation of forms, reports, and title information related to the property and is available on our website for review and download. PROPERTY SHOWINGS Showings are by appointment only. Please contact John Aflatouni at TransGlobal Realty Advisors; 469.585.4991. Auction Information PAGE 11
AUCTION TIMELINE DUE DILIGENCE by February 25, 2016 Due diligence materials are available at BraunWorldbid.com. BROKER REGISTRATION February 25, 2016 // 12PM PT Broker Registration forms can be found on BraunWorldbid.com, and must be submitted to us by February 25, 2016 at 12pm PT via mail, or fax 310.798.8883. BID & DEPOSIT DUE February 25, 2016 // 12PM PT Mail, fax or email your Sealed Bid Registration form and registration deposit of $50,000. CLOSING DATE March 25, 2016 Auction Information PAGE 12
DISCLAIMER DISCLAIMER: BRAUN makes no representations or warranties on approved uses of the property. This brochure is provided for the sole purpose of allowing a potential buyer to evaluate the subject property. The potential buyer is urged to perform its own examination and inspection of the property and information relating to same, and shall rely solely on such examination and investigation and not on this brochure or any materials, statements or information contained herein or otherwise provided. Neither BRAUN, its members, managers officers, employees or agents, nor any of its partners, directors, officers, employees and agents, nor seller and broker, make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to this brochure or the property or any materials, statements or information contained herein or relating thereto, or as to the accuracy or completeness of such materials, statements or information, or as to the condition, quality or fitness of the property, or assumes any responsibility with respect thereto. Such materials, statements and information have in many circumstances been obtained from outside sources and have not been tested or verified. Projections, in particular, are based on various assumptions and subjective determinations as to which no guaranty or assurance can be given. Without limiting the foregoing, in the event this brochure contains information relating to any hazardous materials in relation to the property, such information shall in no way be construed as creating any warranties or representations, expressed or implied, by operation of law or otherwise, by BRAUN, broker, sales agents or seller, as to the existence or non-existence or nature of hazardous materials in, under, on or around the property. This brochure is provided subject to errors, omissions, prior sale or lease, change of price or terms and other changes to the materials, statements and information contained herein or relating to the Property. BRAUN will not be responsible if the property is unsatisfactory to the buyer in any way. PROPERTY VALUE: Buyers are responsible for conducting their own due diligence. We suggest that all buyers do their own due diligence in regards to assessing value. PAGE 13