Doug Britton thought he had the deal of a lifetime: a contract to buy 101 acres of land (in red on the map) just south of the spot in Spring where — it was rumored at the time — ExxonMobil planned to develop a new corporate campus. And it was available for cheap: just $5 million. Britton contacted two brokers at Bandier Partners to help him move on it.
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But these brokers — as well as Charter Title, among other defendants — paperworked him out of the deal, Britton claimed in a lawsuit filed late last year. First, Britton claims, Bandier’s brokers pushed him to use Charter, their company of choice. (They told Britton they had relationships with Charter brass, including Marvin Zindler, Jr.) Bandier then offered to front the earnest money in return for a 50/50 share of the property; Britton refused, but he claims that Bandier went ahead with it anyway. Still, Britton claims that he was assured Bandier and Charter were acting with his interests in mind.
Long real-estate swindle story short: the very companies he contacted to help him buy the land, he charges in the suit, bought it themselves; all Britton’s interests were transferred when the property was sold to Kenroc. Just before Christmas, a jury agreed with the thrust of his charges, awarding him $16.5 million in total damages. Since then Kenroc has listed the 101 acres near Spring Stuebner Rd. and I-45 at $28 million.
- Jury awards $16.5M in case over land purchase near Exxon Mobil campus [Houston Business Journal]
- Previously on Swamplot: Welcome to the Land of ExxonMobil: A Tour of the Company’s New North Houston Campus
Maps: Bandier Partners