Andes Citihope building sold; other properties bought by group
By Brian Sweeney
Citihope International has sold its longtime Andes building to a buyer that is reportedly purchasing a number of Main Street properties.
Paul Moore II, chief operating officer, confirmed the sale of the Citihope office/warehouse facility this week. He indicated that, despite the transaction, the business will definitely remain in the area.
“It is absolutely our intention to stay in the area. We are actively looking for a place to meet our needs,” he told the News.
Out of the blue
Mr. Moore said the proposal to sell the Citihope building came “quite unexpectedly.” The Citihope board of directors weighed the offer and deemed that it made financial sense for the organization to proceed with the sale.
Public records indicate that the sale price was $400,000. The purchaser was Keauhou Properties Company LTD.
He said Citihope would remain in its current location for up to six months while seeking a new location. Mr. Moore said that spaces are being explored in the Andes and Margaretville areas.
The spacious Citihope building encompasses more than 5,000 square feet. Mr. Moore noted that the organization is evaluating using a smaller office space and utilizing the warehouse capabilities of one of is partner agencies.
The faith-based Citihope works to supply medicine and medical supplies to different locations around the world. Mr. Moore said Citihope has supplied nearly $1 billion in supplies during the past 30 years. The group has been in its present Main Street location for 22 years.
Warehouse not essential
He said that the expense and regulations involved to keep supplies secure results in considerable overhead. As a result, outsourcing storage of the medicine and related goods to a partner organization is something that Citihope officials are strongly considering.
“We can outsource, but our offices and headquarters will remain local,” Mr. Moore confirmed.
The organization has six employees.
Mr. Moore said the corporation that made the purchase is from out of the area and he does not know the individuals involved with the group. He said that buyers told him they were planning to turn the building into retail space.
Mr. Moore said it was his understanding the same corporation has also purchased three or four properties that neighbor the Citihope building.
Another Andes resident, who asked not to be identified, told the News that the corporation buying property in Andes is the same one that plans to build an Aman Resort on the 2,000-acre former Gerry Estate situated in the towns of Andes and Bovina. Aman Resorts are high-end properties with locations throughout the world. Plans were announced several years ago for one of the resorts to be built on the Gerry Estate.
Andy Wos, local representative for the resort developers, said he had no comment on these purchases.