Letter to the Editor

Reader suggests possible annex solution

Wednesday, August 4, 2010

To the Editor:

My wife and I purchased the Marsh building over two years ago.

We have really enjoyed the people we've met in Greencastle; contractors are fair and the labor we have dealt with shows up on time and always does a great job. The tenants have been terrific and even the kids that congregate in the parking lot place all the trash in the trashcan.

No other city we have owned property has been this pleasant.

I wanted to respond to the article about the County Annex.

A comment was made that no matter what the county does it will cost between 4 and 5 million dollars. I just want to make sure to note that the 32,000 square foot section at the former Marsh is currently listed at $1.5 million.

That is a cost of $48.61 per square foot.

Of course the building will need to be upgraded for offices, but to come near $4-$5 million is not realistic.

We have had two companies look at putting offices in the space, and they estimated the cost to be at $500,000.

The second option is to purchase the entire building as it is currently listed at $2.1 million for all 52,000 square feet.

The county could remodel the Marsh section and collect the rent that the other shops are currently paying.

I believe the county could own the building and remodel and pay all debt off with the other tenants' rent.

My final comment is that if we really want to see the true numbers, let's get together with a few local contractors and take a look at the blueprints and review the current leases and see what the real number is for all the projects on the table.

If we do that, I feel the project's true number will be half of what was printed in the paper.

Jeff Moe