In 2015, coming full-circle in technology with Ten-X.com, George Riggs is helping brokers, owners and investors complete stabilized market transactions in CRE online typically in 90- 100 days.
“It’s the future of CRE,” says Riggs. “I was enamored with the process, ready availability of due diligence on the site and the overall online execution and evolution of the traditional process ever since I registered some LATAM investors and evaluated a South Florida retail center in 2014. Ten-x and incumbent technologies will continue to revolutionize CRE making it safer and 10X better for everyone.”
Ten-X.com, a technology company, (formerly Auction.com), is the largest online marketplace for commercial real estate.
Riggs, a serial technology entrepreneur, sold 3D Engineering & Design to 4D Imaging in 2003 and stayed on during the transition. Subsequently, he found himself back in the saddle alongside his former scientific cohorts at Berkeley and on the road in Washington, D.C. evangelizing technology solutions, mitigating threats of Anthrax and other chem/bio agents in built- environments using Safe Air Solutions/BreatheSafe-built around software out of SANDIA Labs.
“Those were some interesting times,” said Riggs. “It was like scenes right out of West Wing! Remember! Anthrax was being sent in the U.S. Mail.”
Ultimately, Riggs turned off the spigot of financing for the venture and took on a succession of senior roles in investment banking, leaving the industry after a stint as Managing Director with The McLean Group in Tysons Corner, VA. during the long run down.
The recession opened up restructuring opportunities for Riggs in private equity and banking… which eventually led to real estate.
“It’s amazing when you look back at it. Auction.com really made a name doing distressed deals in the beginning. Then Google and a number of private equity firms like Stone Point, Starwood & Fortress saw that there was an opportunity to completely transform an industry (CRE), so they put in a ton of cash and joined the Board.”
The culture here at Ten-X is amazing and focused on making everything better. It’s built around a simple premise: “we want everyone to be able to buy and sell real estate online with confidence.”
When not immersed in his work, George dabbles in the performance arts as an actor, performing in community theatre, television shows like Burn Notice, and film.
He is also an avid water-skier, windsurfer and sailor and active with kids-at-risk and the Salvation Army. In addition, he served on the Voices For Children Board of Directors, (the funding arm for Guardian ad Litem) advocates for Foster Kids and The Florida Grand Opera.