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Ten X

www.ten-x.com link_icon

Company Profile: Ten-X



Overview


Ten-X is a prominent online real estate marketplace specializing in facilitating transactions for commercial and residential properties. As an integral entity within the CoStar Group, Ten-X is the leading platform for conducting commercial real estate online auctions and negotiated bids. The company caters to retail, hotel, and industrial sectors among others.


  • Headquarters: Irvine, California

  • Company Size: 1,001-5,000 employees

  • Type: Public Company

  • Specialties: Online Real Estate Transactions, Residential, Commercial, and Investment Properties


Key Offerings and Services


  • Online Real Estate Marketplace: An end-to-end platform that allows users to buy and sell commercial and residential real estate properties efficiently.

  • Advanced Auction Platform: A sophisticated auction platform that brings together a large pool of potential buyers, enabling streamlined transactions.

  • Data-Driven Technology: Empowers brokers, sellers, and buyers with data-driven technology, making the process transparent and efficient.

  • Specialized Services: Ten-X specializes in business process outsourcing and is affiliated with Auction.com and Ten-X Commercial.


Recent Company Performance and Activities


  • Integration with CoStar Group: Enhanced capabilities and market reach, reinforcing its position as the top commercial real estate exchange.

  • Market Trends and Insights: Frequent sharing of industry insights and trends by company executives, emphasizing the growing importance and convenience of digital real estate solutions.

  • Growth and Expansion: Significant demand and growth, notably expanding recruitment efforts in key locations such as Richmond, VA, and Irvine, CA.


Leadership Team


  • Steven Jacobs, President

  • Guides Ten-X's strategic direction within the commercial real estate sector, actively involved in public discussions, and provides market insights.

  • Victor Gutierrez, Senior Vice President

  • Oversees platform operations and contributes to recent growth strategies, addressing market trends and driving platform improvements.

  • David Nance, Vice President, Information Technology

  • Ensures the robustness and efficiency of the technological infrastructure with over 25 years of experience in technology delivery.

  • Kevin Spellacy, Regional Vice President

  • Brings extensive expertise in regional management, focusing on transaction trends and market performance since 2015.


Notable Achievements


  • Market Position: Recognized as the #1 exchange for buying and selling commercial real estate online.

  • Thought Leadership: Leadership frequently contributes to industry discussions on digital real estate transaction trends and innovations.

  • Client Success Stories: Successful partnerships with major firms such as The Lund Company and Cushman & Wakefield.


Competitor Profile: Ten-X



Overview


Ten-X operates as an online real estate marketplace specializing in retail, hotel, industrial, and other commercial real estate transactions. Under the umbrella of CoStar Group, Ten-X utilizes an advanced auction platform to facilitate buying and selling commercial properties, ensuring expedited and certain transactions.

Key Functionality


  • Auction Platform: Integrates the largest pool of buyers and real-time asset intelligence, driven by CoStar's data, to double the speed and certainty of transactions.

  • Services: Covers both residential and commercial properties, ensuring efficient transaction processes for brokers, owners, and investors.


Competitor Landscape



Crexi


Crexi offers a comprehensive marketplace and technology platform for commercial real estate professionals. The platform includes workflow management tools and customizable data analytics aimed at streamlining the end-to-end CRE process.


  • Headquarters: Los Angeles, California

  • Company Size: 201-500 employees

  • Type: Privately Held

  • Founded: 2015

  • Specialties: Online Real Estate Marketing and Sales Platforms, SaaS, CRE Insights


LoopNet


LoopNet is part of the CoStar Group and is the leading commercial real estate marketplace utilized for both sales and leases. The platform boasts 13 million monthly unique visitors, which drives significant traffic and exposure for listed properties.


  • Headquarters: Washington, DC

  • Company Size: 1,001-5,000 employees

  • Type: Public Company

  • Specialties: Commercial Real Estate Listings, Multiple Listing Service (MLS) Software


CoStar Group


CoStar Group is a key player in the real estate market, providing expansive research and the most comprehensive database of CRE information. CoStar's suite of services includes data benchmarking, analytics, and various online marketplaces for commercial and residential real estate.


  • Headquarters: Washington, DC

  • Company Size: 5,001-10,000 employees

  • Type: Public Company

  • Specialties: Research, Marketing, Product Development, Analytics, CRE


Recent Highlights and Opportunities


1. Acquisition and Sales Velocity: Showcases rapid transaction capabilities with deals closing in as few as 91 days, backed by extensive marketing and asset intelligence.
2. Employee Expertise: Industry leaders such as Cheri Mascitelli, Ten-X's Senior Auction Advisor, emphasize the role in facilitating seamless transactions.
3. Innovative Positions: Actively recruiting for roles such as Senior Director of Sales Training, indicating ongoing investment in sales infrastructure.

Competitive Edge


Ten-X stands out due to its integration with CoStar's robust data and sophisticated auction platform, which provides unparalleled speed and certainty in transactions. Competitors like Crexi and LoopNet also offer strong platforms, but Ten-X's unique positioning within the CoStar Group arms it with substantial resources and market reach.