Bidding on Cape's former federal building tops $183,000

The bidding for Cape Girardeau's former federal building heated up Monday, with the highest of four new offers coming in at $183,888 a day before the online auction was scheduled to end.

General Services Administration spokeswoman Angela Brees confirmed that four bids were made Monday for the two-story building at 339 Broadway. Five separate bidders have submitted offers since the auction began Nov. 9, she said.

"It's encouraging to see so much bidding activity," Brees said. "We'll see what [today] holds for us. We, of course, want the highest sale possible. But ultimately reuse, ensuring it remains a valuable asset to the community, is our highest priority."

If the GSA wants the auction to stay alive -- and get the offers closer to the $750,000 it hopes to get -- more bids are going to have to come in today.

As of about 9 p.m. Monday, no additional bids had been made.

In late December, the GSA set today as the closing date, but such auctions are extended in 24-hour increments if new bids come in on the closing date. That happens each day that a new bid comes and continues until a day passes with no new bids.

The building has sat vacant for more than two years and this is GSA's second attempt to unload the 47,867-square-foot structure that was built in 1967. The first auction last year also drew four bidders, but the top three backed away from their offers. The top two offers of $625,000 and $615,000 even forfeited their $25,000 deposits. The fourth bid was only $25,000 and the GSA only keeps deposits from the top two bidders. The auction is at www.gsa.gov.

The GSA does not reveal bidders' identities. One bidder, David Alarid of Williamson County Investments in Austin, Texas, has gone public, but the GSA will not confirm or deny that he made a bid.

The only other group that has publicly expressed interest in the building is the Cape Girardeau County Commission, though Presiding Commissioner Clint Tracy won't say whether they have made a bid.

smoyers@semissourian.com

388-3642

Pertinent address:

339 Broadway, Cape Girardeau, MO