AUSTIN, Texas — The office building that for many years oversaw the administration and sale of various CU assets, often as the result of credit union failures, has now been sold itself.
The U.S. General Services Administration (GSA) said it has sold the 18,000-square-foot building that was home to NCUA’s Asset Liability Management Center in the Stillhouse Canyon Office Park in northwest Austin.
The building was sold for $3.49 million, with GSA saying it received 25 bids during the sale process. The agency did not say who had purchased the building, but it sold for above its original listing price $1.5-million. The building includes a 17.57% interest in the common elements that include 8.158 acres.
‘Strategically Divesting’
“We are strategically divesting underperforming assets, saving in maintenance costs, and ensuring that federal resources are utilized efficiently,” Public Buildings Service Commissioner Micheal Peters said in a statement.
In its statement the GSA claimed that the sale will save around $280,000 in annual maintenance costs from the federal government’s $6.8 trillion budget.
