Hostess selling properties in on-line auction
June 25, 2014
by Eric Schroeder
KANSAS CITY — Hostess Brands, L.L.C. is looking for a new owner for its 40,450-square-foot, two-story corporate headquarters in Kansas City. The snack cake maker has had the property on the market for more than a year and now is featuring it on LFC’s auction web site, Freedom Realty Exchange (FRE.com).
Hostess has set the minimum bid at $999,000, with a bid deadline of Aug. 7. Additionally, the purchase of the building would include a one-year leaseback, which Hostess said would give it time to locate a new headquarters building in the Kansas City area.
“When traditional methods stop delivering results, we find many property owners turning to on-line auctions to re-energize buyer interest from a broader market,” said Kelly Lovegrove, director of marketing for the auction company. “Hostess Brands found themselves in this situation and decided the on-line auction could produce the best outcome.”
Other Hostess Brands properties available in the auction are former bakery outlets in Hampton, Va.; Tallmadge, Ohio; and Indianapolis.