HOUSTON-As planned, the deed to the 1.3-million-sf Enron headquarters at 1400 Smith St. yesterday was turned over to a group of investors led by local cardiologist, Dr. Antonio Pacifico, an Enron spokesman confirmed. The group paid $55.5 million for the CBD property.

The US Bankruptcy Court for the Southern District of New York approved the sale Dec. 6, two days after it was auctioned, and set a Dec. 16 deadline for the closing. Court documents show the buyer was required to put 20% of the final price or $11.1 million on the line before the closing. The auction kicked off with a $50-million minimum ask and a required $3-million down payment once the winner was determined.

The “as-is” purchase came with a short-term lease to Enron for 671,908 sf, with each business day’s rent assessed at $15,616.44 through the March 31 expiration, according to court documents. Enron also will be assessed 50% of the building’s operating expenses and $127,500 per month for parking. Rollie Andre with the Houston office of Dallas-based Henry S. Miller Commercial represented Pacifico in the sale and will be handling the high-rise’s leasing.

Harris County filed an objection to the sale in an effort to recover $3 million in outstanding real estate taxes from the sale of Enron Center South at 1500 Louisiana St. The Enron spokesman tells GlobeSt.com that the motion failed, but was unable to provide additional information about the hearing’s outcome. The county’s attorney has not returned telephone calls for comment on the unpaid bill.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.