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Ten-X Announces Closing of Houston Retail Center

HOUSTON – Feb. 10, 2016 – Ten-X (formerly Auction.com), the nation’s leading online real estate marketplace, announces the closing of Lighthouse Plaza, a 10,600-square-foot retail strip center in Houston that sold on the Auction.com platform for $2.245 million.

The 2013-built, 100-percent occupied center was purchased by a local individual investor. The seller was a local LLC — a first-time user of the platform. The two-day online auction event attracted 11 fully approved and registered bidders with five bidders placing live bids. The transaction was brokered by Saqib Ali of Champions Real Estate, who worked with Austin-based Ten-X Business Development Executive Alexander Lavell.

“The successful sale of Lighthouse Plaza in Houston demonstrates how Ten-X delivers what buyers, sellers and brokers need to be successful in today’s commercial real estate market,” said Gordon Smith, general manager of Ten-X’s commercial real estate division. “Our ability to provide direct access to data-driven intelligence, a simplified transaction process and a proven platform that ensures secure online transactions empowers people to confidently transact real estate online.”

Located at 8245 Mills Road, Lighthouse Plaza is a single-building structure that benefits from a strong location on the corner of two major Houston thoroughfares in Harris County. Local tenants currently occupy the fully leased asset.

“The Houston retail market is hot and Lighthouse Plaza was a great asset to feature on our platform as a stabilized, cash flowing property in a thriving area,” Smith said.

To learn more about buying and selling commercial assets on Auction.com, please click here or call 844-694-4976.

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About Ten-X

Ten-X (formerly Auction.com) is the nation’s leading online real estate marketplace, having sold 200,000+ residential and commercial properties totaling more than $37 billion since 2007. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions entirely online.

Ten-X empowers consumers, investors and real estate brokers with unprecedented levels of flexibility, control and simplicity – and the convenience of buying and selling properties whenever they want and from wherever they are. As real estate continues to move online, Ten-X is uniquely positioned to be at the forefront of this dramatic behavioral shift.

Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include Google Capital and Stone Point Capital. For more information, visit Ten-X.com.

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