U.S. General Services Administration Sells Nome Federal Building to Front Properties, LLC
NOME, Alaska -- The Federal Building here has a new owner. The U.S. General Services Administration has sold the Federal Building at 113 Front Street to Front Properties, LLC for $1,681,001. The sale was finalized Feb. 27.
The two-story Nome Federal Building was built in 1958 to house federal agencies and the U.S. Courts. The building was sold due to a diminished need by Federal agencies for office and courtroom space in Nome. The major tenants, the State of Alaska and the U.S. Postal Service, will remain in the 27,503 gross square feet building in the heart of Nome.
“The sale of the federal building is in the best interest of the taxpayer as we were no longer using it to its full potential,” said Blaine Hastings, regional real estate property disposal manager. “With this sale, the building remains a valuable asset to the community.”
Under Federal real property disposal regulations, when a property no longer meets Federal needs, it is offered to state and local governments and non-profit organizations for various public benefits. If no such need is identified, it is offered to the general public for sale at fair market value.
Front Properties LLC, headquartered in the Anchorage, plans to invest more than $500,000 in exterior and interior improvements, including mechanical systems and interior lighting modernization.
“Through the upgrades we intend to keep the building as one of the most historically distinguished and desirable buildings in Nome,” said Steve Zelener managing member for Front Properties, LLC.
Front Properties, LLC and its affiliates own and manage commercial buildings around the State of Alaska, specializing in redevelopment of commercial properties. The Solar Building in downtown Anchorage at www.anchoragesolarbuilding.com is one of the latest projects for the company.
As the federal government's workplace solutions provider, the U.S. General Services Administration works to foster an effective, sustainable and transparent government for the American people. GSA’s expertise in government workplace solutions includes:
• Effective management of government assets including more than 9,600 government-owned or leased buildings and 215,000 vehicles in the federal fleet, and preservation of historic federal properties;
• Leveraging the government’s buying power through responsible acquisition of products and services making up approximately 14 percent of the government’s total procurement dollars;
• Providing innovative technology solutions to enhance government efficiency and increase citizen engagement; and,
• Promoting responsible use of federal resources through development of government-wide policies ranging from federal travel to property and management practices.
Posted: April 11, 2012