GSA to Dispose of Excess Property, Save Taxpayer Dollars
Online public auction for Moscow Federal Building begins August 7, 2012
July 24, 2012
MOSCOW, IDAHO -- Today, the U.S. General Services Administration (GSA) announced that it will begin an online auction to sell the Moscow (Idaho) Federal Building on August, 7th. Auctioning this property is part of GSA’s ongoing efforts to dispose of excess properties to save taxpayer dollars and make more efficient use of the government’s real estate assets. In the past year alone, the federal government has sold or transferred 97 excess properties valued at $82 million.
“As the federal government’s landlord, our mission includes making government more efficient and saving money by disposing of buildings and facilities that are no longer needed,” said George Northcroft, Regional Administrator of GSA’s Northwest and Arctic Region. “We are working to get the best deal for the taxpayers.”
The Moscow Federal Building is no longer used to its full potential and has been deemed an excess federal property. The five story office building with 107 parking spaces is located at 220 East 5th Street in Moscow, Idaho. Built in 1973, the property is located downtown near government and private offices and retail space buildings. The building also contains a U.S. Post Office. The current federal tenants will have the opportunity to remain in the building for at least two years.
The auction will begin on August 7, 2012 with a minimum bid of $300,000. Bids may be submitted at GSA's auction website at RealEstateSales.gov. GSA will host open houses on August 2nd and 9th with hourly tours at 12:00, 1:00 and 2:00 PM from the building entrance.
The starting bid amount does not represent the value of the property, but rather provides a reasonable starting point for the online auction. The government seeks to obtain fair market value for the property and reserves the right to reject any and all bids.