Auction of Enron Skyscraper Completed

Enron Corp. completed the auction of its new 40-story Houston skyscraper. Terms and identity of the winning bidder won’t be disclosed until a Bankruptcy Court hearing on the sale Oct. 10. The sale of the Cesar Pelli-designed Enron Center South, which Enron never occupied, is part of an effort to recoup some of the $50 billion owed to creditors. Houston real estate brokers said the building probably would sell for about $100 million, less than its estimated development cost of more than $300 million.