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US Postal Service still seeking buyer for downtown Kingsport building

July 5th, 2013 8:15 am by Matthew Lane

US Postal Service still seeking buyer for downtown Kingsport building

The U.S. Post Office on Center Street.

KINGSPORT — Kingsport’s downtown post office is not only for sale, it’s also on sale.

The United State Postal Service has reduced the asking price of the building and property from $1.3 million to $1,130,000. Any purchase would include the main two-story building (62,000 square feet) and the 1.6 acre city block of Center, Clay, New and Revere streets.

The post office has been on the market since April 2012 and is being sold in connection to an overarching downsizing and consolidation strategy by the Postal Service to help save money and stave off bankruptcy. The property is one of 40 listed on the USPS’s properties for sale web site and the only one for sale in Tennessee.

Since going on the market more than a year ago, Kingsport officials have expressed an interest in acquiring the property as a possible expansion site for higher education purposes, tying in with the nearby five-building-strong Academic Village.

However, the USPS turned down a $300,000 offer from the city last year, saying the original asking price was well within market norms.

Other interested parties have also toured the facility over the past 14 months, including representatives from Northeast State Community College, East Tennessee State University and Lincoln Memorial University.

Earlier this year, a New York businessman and his son toured the building, a long-time Kingsport businessman has made an offer on the property and a representative from TCI Group took a walk-thru of the building last week.

David Walton, spokesman for the USPS, would not comment on the number of offers the postal service has received on the property, but said the property is still for sale and no contracts are in place.

The USPS has indicated in the past a desire to keep the retail space and post office boxes in the building, under lease, when the property is sold. Kingsport has expressed a similar interest in the past, saying these services should remain somewhere downtown if the building is sold.

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