Online Sale Attracts Local Investor for Retail Center

The three-year-old, 100% local-tenant occupied center was purchased by a local individual investor.

HOUSTON—A two-day online auction event attracted 11 fully approved and registered bidders with five bidders placing live bids. Ten-X , formerly Auction.com , closed Lighthouse Plaza , a 10,600-square-foot retail strip center on the auction platform from a seller that was a local LLC—a first-time user of the platform. The 2013-built, 100% local-tenant occupied center was purchased by a local individual investor. “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,” says 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 Rd., Lighthouse Plaza is a single-building structure that benefits from a location on the corner of two major Houston thoroughfares in Harris County. The transaction was brokered by Saqib Ali of Champions Real Estate , who worked with Austin-based Ten-X business development executive Alexander Lavell . LEASES HOUSTON— Circle 8 Services Inc. leased a 40,000-square-foot industrial building on 9.6 acres located at 3004–A Aldine Bender. Circle 8 is a mobile crane and fluid services operator. Chris Caudill of NAI Partners represented the tenant during the negotiations, while Hart Schleicher of Capital Real Estate Commercial Inc. represented the landlord, 3004 Aldine Bender Partners LP . HOUSTON— Texas Installs leased 12,792 square feet of office/distribution space located at 18209 Chisholm Trail. Texas Installs is an appliance distribution and installer. Chris Caudill and Wade Cater of NAI Partners represented the tenant during the negotiations while Jon Michael of Bridge Commercial Real Estate represented the landlord, Colfin Cobalt . FACILITY MANAGEMENT HOUSTON— Texas Medical Center (TMC) announced today that it has selected JLL to be its strategic partner responsible for providing facility management services for all TMC-owned corporate real estate, including office buildings and parking facilities. TMC’s footprint spans more than 1,300 acres with 26 miles of streets. In this role, JLL will implement a program to deliver and manage services and technology solutions to enhance the experience for TMC’s customers and employees. “We are executing a bold vision to advance innovation and collaboration across the medical center, which requires us to expand our capabilities to meet this challenge,” said Bill McKeon , TMC’s chief strategy and operating officer. “As a global leader in facilities management, JLL is the ideal strategic partner for TMC as we transform the way we serve our ever-expanding campus.”