Amarillo’s 98,000-SF Commerce Building to sell for $3.1MAmarillo’s 98,000-SF Commerce Building to sell for $3.1Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=43972014-04-16T08:40:00Z2014-04-16T00:00:00Z

AMARILLO - The Amarillo Economic Development Corporation (AEDC) will acquire the 98,000-sf Commerce Building, located at Southwest Eighth Ave. and South Tyler St., from New Commerce Partners for $3.1 million.

The Potter-Randall Appraisal District values the Commerce Building itself at $1.3 million for taxation, but puts the replacement cost at $6.7 million. The building is about half-full of tenants.

The AEDC plans to raise funds with the Amarillo Area Foundation to redo the building, from removing asbestos to replacing the heating and cooling system, said AEDC President and CEO Buzz David.

Eventually, West Texas A&M University will move classes from the Chase Tower and potentially other activities to the building, said Neal Weaver, vice president of institutional advancement.

Amarillo Globe-News
http://amarillo.com/news/latest-news/2014-04-01/city-oks-commerce-building-buyRead more at {Source}

 Search NewsTalk Texas