In a recent government meeting, officials discussed the ongoing efforts to sell the 160 East Kellogg property, a significant downtown asset. Director Gene Krueger of property management introduced the presentation, highlighting the collaboration with commercial real estate firm CBRE, represented by Vice President Chris Gleidman.

The 160 East Kellogg Building spans 375,000 square feet across nine stories and is situated on 3.18 acres along the riverfront, adjacent to the former U.S. Postal Service building. The property includes a front parking lot with approximately 20 stalls and an additional 1.8 acres of surplus land featuring around 190 parking stalls, which could support various redevelopment opportunities.

Gleidman noted that the building is being marketed for potential repurposing, possibly for housing or continued office use, although a redevelopment project is deemed more likely. Since listing the property, CBRE has reached out to a network of about 2,100 interested investors, with hopes of generating significant interest.

Commissioner Fetham raised concerns about the impact of the recent sale of the Madison Equities portfolio, a substantial 1.6 million square feet of downtown property, on the sale of the Kellogg Building. Gleidman acknowledged the heightened interest in the market due to the Madison Equities sale but emphasized the need for the Kellogg property to maintain its unique appeal.

The meeting underscored the strategic importance of the 160 East Kellogg property in the context of broader downtown development plans, particularly regarding its potential role in future redevelopment initiatives along the riverfront. Further discussions and updates on the sale are anticipated as the process unfolds.