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Former Allegheny Energy building has new owner

August 21, 2008|By JOSHUA BOWMAN

HAGERSTOWN -- More than three years after it was sold by Allegheny Energy, the company's former corporate headquarters on Downsville Pike has a new owner.

The building is being sold by its current owner, Hagerstown-Washington County Executive Director Timothy R. Troxell said Wednesday.

Troxell would not identify the buyer, who plans to announce the purchase on Aug. 26 during the Washington County Commissioners weekly meeting.

The building, at 10435 Downsville Pike, is owned by Downsville Office Lot LLC.

That company purchased the 97,754-square-foot building from Allegheny Energy in May 2005 for $7.6 million after the power company moved its corporate headquarters to Greensburg, Pa.

AC&T Vice President Mark A. Fulton is listed as the resident agent of Downsville Office Lot LLC on a business information Web site maintained by the Maryland Department of Assessments and Taxation.

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Fulton could not be reached for comment Wednesday.

Bethesda, Md.-based TSC Realty Services LLC is the company managing the lease and sale of the property.

As of Wednesday evening, the property was listed for sale on TSC's Web site for $6.95 million.

A call to Peregrine Roberts, the company's president, was not returned Wednesday.

It is unclear how the property will be used under the new owner.

The site is zoned to allow a variety of uses, including educational institutions, computer and data processing services, hospitals, research companies, laboratories, offices, parking structures and lots, government facilities and radio and television broadcasting facilities.

Washington County Public Schools and Washington County government are not buying the building, according to officials from both bodies.

Both groups have shown an interest in the property over the past several years, but Assistant Superintendent for School Operations Boyd Michael and Washington County Real Property Administrator Joseph Kuhna said Wednesday that neither the school system nor county government are buying the building.

Likewise, University System of Maryland at Hagerstown Executive Director C. David Warner III said Wednesday that the college is not buying the building.

Officials at the Hagerstown campus have discussed expanding beyond the school's downtown center.

The property's new owner will hold a press conference on Aug. 26 at 3 p.m. in the Washington County Administration building to announce plans for the property, Troxell said.

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