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Harris County Files Objection to Enron HQ Sale

HOUSTON-Sources say a private local investor has won the 1.3-million-sf CBD prize although the deal-makers aren't talking. Not only is bankruptcy approval needed, but the county is chasing $4 million in unpaid taxes for another Enron office property.

By Jennifer Brenner Andrade | Updated on December 02, 2003

HOUSTON-Sources close to the Enron headquarters auction say a private local investor has won the face-off for the 1.3-million-sf office building in the city’s CBD. Still, it’s not a done deal as Harris County Appraisal District prepares to defend an objection in the courtroom Thursday.

The auction was staged yesterday in the Downtown offices of Enron’s law firm, Weil, Gotschal & Manges LLP. The sale also is contingent upon approval from US Bankruptcy Court for the Southern District of New York.

John Dillman of Linebarger, Goggan, Blair, Pena & Sampson in Houston tells GlobeSt.com that the objection emanated from Enron’s failure to pay a $3-million tax bill from the $102-million sale of Enron Center South at 1500 Louisiana St., bought at auction last year by Intell Management & Investment Co. of New York City. Since then, interest and penalties swelled the bill to $4 million, says Dillman. The taxes are owed to the city, county, Houston Independent School District and Downtown Management District.

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