Faultless Puts KC Real Estate Sale on Hold
Faultless Linen, Kansas City, MO, recently put the sale of four properties in the area of the city known as the Crossroads Arts District on hold to focus on its operation in St. Louis, according to a report in The Kansas City Star.
“We decided we’re not actively promoting our KC property sales,” said Faultless COO Mark Spence to The Star. “We informally took things off the market.”
The main reason the sale of the properties was put on the shelf for the time being was the company’s focus on its St. Louis property, the report said. In June, National Geospatial-Intelligence Agency Director Robert Cardillo approved the federal agency’s site selection for its new $1.7 billion west U.S. headquarters in the same location as Faultless has its north St. Louis facility.
“We’ve got to build a whole new building in St. Louis,” Spence said to The Star. “We’ve got to get out of our current site by August 2017.” Faultless has been in “constant negotiation” with the city of St. Louis on a complex relocation deal, Spence said. When that business has been completed successfully, the company can focus on Kansas City again, he said.
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