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Cabarrus Chamber may sell building

KANNAPOLIS — The Cabarrus Regional Chamber of Commerce is considering selling its headquarters building on Dale Earnhardt Boulevard, according to a letter sent to members by Chamber CEO John Cox.
In the letter, Cox writes the chamber is “exploring a number of options to address the indebtedness of our chamber headquarters and to assess opportunities for improving cash flow.”
The letter said committees appointed by the organization’s board of directors have been exploring two options:
• Forming a limited liability corporation to hold the building and sell part of the equity to qualified investors, which the letter calls “a relatively common vehicle for commercial real estate financing and ownership.”
• Selling the building and relocating to a new headquarters nearby or leasing space in the building from the new owner.
A commercial appraisal has pegged the building’s market value at $2.6 million, according to the letter.
A committee is soliciting investors interested in buying the building at 3003 Dale Earnhardt Blvd. For more information, interested parties can call its chairman, Sam Leder, at 704-786-8189.
If no offers are received by Sept. 6, the chamber has agreed with First Carolina Properties to list the building for sale.

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