Williams & Williams Set to Auction Surplus Real Estate for Archrock in Texas, Louisiana and Pennsylvania

Rhea-AI Summary

Archrock Services L.P. (NYSE: AROC) has partnered with Williams & Williams to auction surplus real estate properties on September 29. The listings include land lots and two light industrial buildings in Victoria, TX, a 12.22+/- acre lot in Broussard, LA, and a flex office/warehouse property in Belle Chasse, LA. An online auction for a vacant residence in New Castle, PA will occur from September 28-30. Public inspections are scheduled for various dates in September. The auctions are open to the public with no deposit required.

Positive

• Partnership with Williams & Williams enhances auction visibility and efficiency.
• No bidder deposit required encourages participation in the auctions.
• Diverse real estate offerings could lead to significant asset liquidation.

Negative

• Dependence on auction outcomes may limit immediate cash flow improvements.
• Potential for undervalued properties if market conditions are unfavorable during auctions.

HOUSTON, Sept. 3, 2020 /PRNewswire/ --

• Texas Properties:
• Victoria—Three (3) land lots and two light industrial buildings
• Louisiana Properties:
• Broussard— 12.22+/- ac lot
• Belle Chasse—37,370+/- sf flex office/warehouse property featuring large shop w/ four (4) bridge cranes and eleven (11) overhead doors. Warehouse space complete w/ four (4) overhead doors and 6,100+/-sf of office space, on two (2) levels
• Pennsylvania Property:
• New Castle— residence

Williams & Williams, a worldwide real estate auction firm and leader in global live and interactive auctions, will auction several surplus real estate properties for energy midstream company Archrock Services L.P. (NYSE: AROC). Listings include warehouse, office space, and land parcels for auction on September 29. The vacant residence in New Castle, PA will sell in an online only auction Sept 28-30 at AuctionNetwork.com. The auctions are being offered in conjunction with commercial broker JLL.

The commercial properties include three land lots and two light industrial buildings in Victoria, TX; improved lot in Broussard, LA; and office/warehouse/shop property in Belle Chasse, LA.

Fontana Fitzwilson, Executive Vice President of Williams & Williams, says "We are honored to be selected by Archrock to assist with the auction of their surplus real estate. The auction process they have chosen is both effective and efficient and powered by technology that lets anyone in the world participate in these auctions.  We are honored they selected us for our knowledge and experience in the oil and gas sector."

Public inspections have been scheduled for the buildings in Victoria, TX and Belle Chasse, LA on Sept. 11 & 18 from 11-2pm, and on Sept. 13 from 1-4 pm for the residence in New Castle, PA. The land parcels may be viewed at your convenience during daylight hours.

The auctions are open to the public, with no bidder deposit required to participate. Online bidding is available simultaneously with the live auctions at AuctionNetwork.com. For a complete list of properties, sale times, locations and terms, please visit the auction website: https://www.williamsauction.com/ARCHROCK.

About Williams & Williams:

Williams & Williams (www.williamsauction.com) is a worldwide real estate auction firm and the leader in global live and interactive auctions.  A full-service brokerage with an operating footprint in all 50 United States and U.S. Territories, the company is part of the Insight One Solutions family of companies. Williams & Williams also cooperatively partners with residential, commercial and land brokers to auction properties throughout the United States and abroad.

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SOURCE Williams & Williams

FAQ

When is the auction for Archrock's properties?

The auction for Archrock's properties is scheduled for September 29.

What types of properties are being auctioned by Archrock?

Archrock is auctioning land lots, light industrial buildings, office/warehouse properties, and a residential property.

Where will the public inspections for the auction properties be held?

Public inspections will be held in Victoria, TX, Belle Chasse, LA, and New Castle, PA.

Is there a deposit required to bid in Archrock's auction?

No, there is no bidder deposit required to participate in the auction.

What is the online auction date for the residence in New Castle, PA?

The online auction for the residence in New Castle, PA, will take place from September 28 to 30.