Williams & Williams (WW) has announced that it will auction surplus real estate assets for Halliburton through live and online events from October 7 to October 9.
The auctions will be held in five U.S. states and Canada and feature industrial buildings and land. Properties are located in Sandersville, MS, Belfield, ND, Edmonton, AB, and Sonora, Odessa and Brownfield in Texas, Artesia and Farmington in New Mexico, and Haynesville and Broussard in Louisiana.
Fontana Fitzwilson, the executive vice president of WW, stated that buyers need to complete their due diligence before the auction as each property will be conveyed “where is, as is” with no contingencies given for inspections or financing. Fitzwilson added that high bidders will be required to make a non-refundable 10 percent down payment immediately after the auctions, and close in 30 days.
Back in June, WW revealed that it would auction more than 20 properties for Schlumberger during a two week period in June. The properties included a mix of warehouse, industrial and land properties throughout Texas, Oklahoma, Colorado, Mississippi, Illinois, North Dakota, Wyoming and Utah.
“Sales in the industrial real estate market are strong right now and the value of having a time-certain sale for multiple properties is attractive to sellers like Schlumberger who want to dispose of their underutilized or idle assets,” Fitzwilson said in a company statement released in June.
WW describes itself as a worldwide real estate auction firm and the leader in global live and interactive auctions. The business, which is headquartered in Tulsa, Oklahoma, has more than a century of experience under its belt, according to its website.
Halliburton is one of the world's largest providers of products and services to the energy industry, its website states. Schlumberger describes itself as the world's leading oilfield services provider.
To contact the author, email andreas.exarheas@rigzone.com
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