Skip to content
  • Industry
    • Residential
    • Office
    • Retail
    • Industrial
    • Hospitality
    • Land
    • Healthcare
    • Life Sciences
    • Special Purpose
    • Mixed-Use
  • Markets
    • Los Angeles
    • New York City
    • Manhattan
    • Queens
    • Bronx
    • National
    • Washington DC
    • South Florida
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
    • Deals of the Week
    • All Leases
  • Finance
    • Acquisition
    • CMBS
    • Construction Financing
    • Distress
    • Refinance
    • Deals of the Week
    • All Finance
  • Investments
    • Development Site Sale
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
    • Deals of the Week
    • All Sales
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
    • All Development
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
    • All Capital Markets
  • Tech
  • Weekly Issue
  • Events
  • Power
  • More
    • Players
    • Legal
    • Policy
    • Features
    • Research & Analysis
    • Columnists
    • Partner Insights
    • Transportation
    • Videos
Log In Sign Up My Account Log Out
  • Account Details
  • Email Preferences
  • Member FAQs
  • Logout
Commercial Observer
  • Industry
  • Residential
    • Multifamily
    • Homebuilding
    • Condo
    • Hotel Condo
    • Student Housing
    • Single-Family Rental
    • Short-Term Rental
    • Senior Living
  • Office
    • Coworking
    • Flex
  • Retail
    • Shopping Centers
    • Outlet/Factory Malls
    • Supermarkets/Grocery Stores
    • Showrooms/Dealerships
    • Street Retail
  • Industrial
    • Data Centers
    • Distribution Centers
    • Industrial Outdoor Storage
    • Manufacturing
    • Self-Storage
    • Studios/Soundstages
    • Warehouse
  • Hospitality
    • Casinos
    • Convention Centers
    • Hotel/Resort
    • Restaurants
  • Land
    • Farm Land
    • Parking Lots
  • Healthcare
    • Hospitals
    • Medical Offices
    • Nursing Homes & Assisted Living
  • Life Sciences
  • Special Purpose
    • Air Rights
    • Arenas/Stadiums
    • Development Rights
    • Educational
    • Government/Military
    • Museums
    • Place of Worship
    • Theaters
  • Infrastructure
    • Airports
    • Bridges/Tunnels
    • Highways
    • Railways
  • Mixed-Use
  • Markets
    • Los Angeles
    • New York City
    • Manhattan
    • Queens
    • Bronx
    • National
    • Washington DC
    • South Florida
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
    • Deals of the Week
    • All
  • Finance
    • Acquisition
    • Construction Financing
    • CMBS
    • Distress
    • Refinance
    • Deals of the Week
    • All
  • Investments & Sales
    • Development Site Sale
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
    • Deals of the Week
    • All
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
    • All
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
    • All
  • Technology
  • Policy
    • Housing
    • Transportation
    • Urban Planning
    • Zoning
  • Legal
  • Weekly Issue
  • Events
  • Power Series
  • More
    • Features
    • Columnists
    • Research & Analysis
    • Partner Insights
    • Players
    • Videos
  • Advertise
  • Contact
  • Reprints
  • Newsletters
  • Power Finance
  • Power 100
  • Owners Magazine
Log In Sign Up My Account Log Out
  • Account Details
  • Email Preferences
  • Member FAQs
  • Logout
  • © 2025 Observer Media · Terms · Privacy

Investments & Sales
National

Presented By: Ten-X Commercial

One Broker’s Secret Marketing Strategy: Ten-X Commercial

By Ten-X Commercial December 11, 2017 9:25 am
reprints


Jay Lucas, a senior director at Cushman & Wakefield in Dallas, was tasked with selling a 60,000-square-foot office building that his client had on the market for more than five years.

“The property became tired,” he says. “The ownership either didn’t have the capital or didn’t want to do renovations and update the property. So, trying to position the property to achieve its potential value, was difficult to do.”

SEE ALSO: JRK Property Holdings Pays $315M for Two L.A. and D.C. Properties

To meet the challenge, Lucas turned to Ten-X Commercial, the nation’s leading online real estate marketplace, which has facilitated the sale of over $50 billion in real estate.

Ten-X, which has transacted over 300,000 properties in the U.S., allows brokers to supercharge the sales process with deals that close twice as quickly as the average commercial real estate transaction.

By leveraging Ten-X Commercial, Lucas was able to sell the property for his client in less than four months, for over $4 million. “It was like I’d called Santa Claus,” he says. “It was perfect.”

With its vast reach in the real estate market, Ten-X exposed the property to a global set of buyers. Lucas’ client suddenly had interest from a variety of markets and, in a sign of Ten-X’s value to sellers, sold the building to an unknown buyer in its own market.

“We had never met. We knew nothing about them,” he says. “The property had a financing contingency, or it probably would have sold in 90 days. It worked out great.”

After closing this transaction, Lucas was a believer in the Ten-X platform. He used the marketplace to sell three buildings in Dallas, totaling approximately 250,000 square-feet. He began working on the deal this past March and, using Ten-X Commercial’s Offer Select transaction solution, closed the deal six month later for more than $12 million.

This time, Ten-X was part of his marketing strategy from the get-go.

“I told my client, this is the way to go—here’s what we’ll do, and here’s why it works,” he says. “They were thrilled with it. We had a lot of buyers come through, and my seller was thrilled with the whole process.”

Currently, Lucas has another deal in the works on Ten-X Commercial, and another he’s just getting off the ground.

After selling real estate for 38 years, Lucas knows the potential buyers in his market well. But Ten-X is now a key aspect of his sales process for its ability to help him identify buyers even he hadn’t come across before.

“With all my experience, there’s lots of people I know. But we don’t know everybody,” he says. “Ten-X’s online marketplace brings in so many potential buyers from around the world. Once a buyer shows an interest in a specific property or property type, Ten-X curates and matches similar properties a buyer might be interested in. That’s a major advantage to us. Plus, when somebody goes into the Ten-X platform and registers interest in a property, I know who they are, and I know how to contact them immediately.”

The most exciting part of using Ten-X Commercial for Lucas, though, comes in real time, during the bidding process with the Live Bid transaction solution.

“When you’re on the phone with the Ten-X team and potential buyers are bidding live—and the seller can see it—it’s an exciting and intense moment,” he says.

“When you hit the reserve and you start getting incremental bids above that, your seller is just grinning so big. They’re just like, ‘This worked.’ ”

Jay Lucas, Sponsored, sponsored-link, Ten-X Commercial, Cushman & Wakefield
 
Trending Stories
Hospitality · Development
National

Outer Space — Hospitality’s Final Frontier?

Residential · Policy
New York City

Harlem Rezoning That Could Spur 1,000 Apartments Advances

Mixed-Use · Policy
New York City

MTA Looks to Take Over East Harlem Properties for Second Avenue Subway Project

Residential · Finance
Florida

$236M West Palm Beach Bond Issue to Fund 25-Story College Dorm

JRK Property Holdings President Danny Lippman, WestEnd25 in Washington, D.C., and Chase Knolls in Los Angeles.
Residential · Investments & Sales
Washington DC

JRK Property Holdings Pays $315M for Two L.A. and D.C. Properties

By Nick Trombola
Jonathan Gray, president and COO of Blackstone, and an empty warehouse interior.
Industrial · Investments & Sales
Florida

Blackstone Sells Industrial Development Site Near Miami for $106M

By Julia Echikson
A customer shops in a Kroger grocery store.
Retail · Leases
National

Kroger Plans to Close 60 Stores in Wake of Union, Leadership Troubles

By Nick Trombola
More

  • Industry
    • Residential
    • Office
    • Retail
    • Industrial
    • Hospitality
    • Healthcare
    • Life Sciences
    • Special Purpose
    • Infrastructure
    • Mixed-Use
  • Leases
    • Office Leases
    • Ground Lease
    • Sublease
    • Tenant Talk
  • Finance
    • Acquisition
    • Construction Financing
    • CMBS
    • Distress
    • Refinance
  • Investments
    • Development Site
    • Portfolio Sale
    • Sale-Leaseback
    • Value-Add
  • Development
    • Architecture
    • Construction
    • Conversion
    • Redevelopment
    • Sustainability
  • Capital Markets
    • Alternative Lending
    • Earnings
    • Economy
    • Foreign Investments
    • Private Credit
    • Private Equity
    • Public Markets
    • REITs
  • Technology
  • More
    • Features
    • Columnists
    • Research & Analysis
    • Legal
    • Players
    • Transportation
  • About
    • Membership
    • Advertise
    • Newsletters
    • Contact
    • Reprints

Read the latest edition of the Commercial Observer online!

July 28th 2020 Magazine Issue Cover
© 2025 Observer Media Terms Privacy Cookie Settings Do not sell my data Sitemap