On April 11, 2012, Motion No. 2012-0285, City Council declared Parcel SY11-058 to be surplus and authorized its sealed bid sale. Subsequently, on June 8, 2016, Ordinance No. 2016-0433, City Council authorized a Marketing Agreement with James Robertson, Jr. dba WorkSpace Commercial Real Estate (WorkSpace) to actively market the property for sale.
Parcel SY11-058 is a vacant lot consisting of 89,003 square feet, or approximately 2.0432 acres, located at 15085 Bellaire Boulevard. The tract was intended to be developed as a public library and is situated in the southwestern part of Houston, along the southern line of Bellaire Boulevard and the eastern line of Winkleman Road. The property’s highest and best use is considered to be commercial. WorkSpace actively marketed the property to developers, investors, builders and end users and listed the property on the Houston Association of Realtors website. The City received two offers. Khawar & Sons, Inc. submitted the highest offer.
Therefore, the General Services Department recommends that City Council approve and authorize a Purchase and Sale Agreement with Khawar & Sons, Inc. for Parcel SY11-058 for a purchase price of $578,520.00, which is over the appraised market value. It is further recommended that City Council authorize the Mayor to execute and the City Secretary to attest a Special Warranty Deed conveying the property to Khawar & Sons, Inc.
After payment of a 4% brokerage commission to WorkSpace, pursuant to the Marketing Agreement, the net sale proceeds will be directed to the General Fund.