Cape Girardeau federal building auction closes

CAPE GIRARDEAU, Mo. (AP) — The winning bid in the auction for the former federal building in Cape Girardeau is for less than half the asking price.

The Southeast Missourian (http://bit.ly/wUsVzW) reported that federal officials now must decide whether the $325,015 bid is good enough. The General Services had offered a suggested sale price of $750,000.

GSA spokeswoman Angela Brees says a decision could be made as soon as next week. If that occurs, the GSA will close on the building within 30 days of the acceptance.

Brees blamed the low bids on a tough economy.

The auction that closed Thursday was the second for the property. The top three bidders in the earlier auction backed away from their offers.

The building has been vacant since the FBI moved out last May.

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Information from: Southeast Missourian, http://www.semissourian.com

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