Former Cape federal building sold, but new owner's identity is mystery

One nagging question was replaced with another Tuesday afternoon: Yes, the top bidder for the former Cape Girardeau federal building was able to close the deal this time, meaning a structure that was declared surplus government property more than two years ago finally had a new owner.

But the identity of that new owner was not immediately made public, leaving several city and county officials -- and the public at large -- still in the dark about what's next for what some consider prime downtown real estate at 339 Broadway.

"I have no idea," Cape Girardeau County Presiding Commissioner Clint Tracy said. "I don't know who the buyer is. But it's been the big question for several weeks: Who is the high bidder?"

The U.S. General Services Administration answered the first question at 2 p.m. Tuesday, announcing that it had received the final payment from the winning bidder for a total sale price of $325,015. The GSA accepted that offer Jan. 25, saying that the deal must be closed by Tuesday.

And it was, on the last day. It was widely speculated, even by some at the GSA, that the top bidder would step forward at the time of closing, but he apparently requested that he be able to do that in his own time.

"I was hoping we would be able to release it as well," GSA spokeswoman Angela Brees said. "But we needed his written permission and he preferred to do the reach-out to the media."

Brees said the GSA is now preparing the property deed, which was to go in the mail Tuesday, she said. At the latest, the owner's identity would become public information when it is recorded at the Cape Girardeau County recorder of deeds' office, she

said.

Relief was the GSA's official response at being able to sell the property that had seen suitors such as the Rev. Larry Rice and his failed plans for a homeless shelter and county officials, who had considered the building for additional office space. City and county officials at one point even considered a joint

venture.

"After more than 40 years in service to the federal government, we're excited to see a successful sale of the building," said Jason Klumb, the GSA's heartland regional administrator. "Whether through redevelopment or reuse, GSA hopes it will remain a valuable asset to the community."

But some have criticized the way the GSA handled the sale. County officials initially made an undisclosed bid on the building, which was later confirmed to be higher than the eventual sale price. But the GSA rejected that offer, saying it would make more on the open market.

That wasn't the case. The first online auction last year saw bids that reached close to the GSA's $750,000 asking price -- the high bid peaked at more than $600,000 -- but the top three bidders ended up backing out, two forfeiting $25,000 deposits.

The GSA scratched that auction altogether and launched a second Nov. 9, which drew only the top bid last month of $325,000 for the 44-year-old building.

On Tuesday, Brees would only say the GSA was glad it was sold.

"We of course wanted the highest sale price possible," she said. "But in this process, there are other things to consider. We don't want the building to stay vacant longer than necessary, either. Ensuring that it continues to be a valuable asset to the community through redevelopment or reuse became the priority."

Some have speculated that maybe the new owner might be interested in selling it to the county, which had a plan to use the two-story building as a stopgap to addressing space issues until it could build a new consolidated county courthouse in Jackson.

Tracy said it's too early to think about that, especially not knowing the new owner's plans for the building.

"That's hard to comment on," Tracy said. "I don't know the situation. I'm probably better off not saying anything right now."

Cape Girardeau Mayor Harry Rediger, who has publicly worried about having a vacant building in such a prominent spot, said Tuesday he didn't know who bought the building either. He still hopes that the county can end up with the property, he said.

But first they need to know who owns it. So it's more waiting, which Rediger said he's used to at this point.

"This has gone on so long," Rediger said, "what's another day or two?"

smoyers@semissourian.com

388-3642

Pertinent address:

339 Broadway, Cape Girardeau, MO