El Paso Electric's Downtown headquarters won't be placed on real estate market for now

El Paso Electric’s headquarters in Downtown El Paso is no longer for sale.

Company officials in October said the 18-story office building was going to be put on the real estate market.

But EPE officials have changed their mind – at least for now.

“El Paso Electric has postponed the active marketing for its Stanton Building given market dynamics,” officials said in a statement given to the El Paso Times.

The El Paso Electric headquarters building at 100 N. Stanton St. in Downtown El Paso is shown on March 1.
The El Paso Electric headquarters building at 100 N. Stanton St. in Downtown El Paso is shown on March 1.

“The listing was never released to the real estate market. We will reevaluate this decision in the future in light of market conditions and opportunities,” according to the statement.

No sale price was ever divulged. But the El Paso Central Appraisal District has the 43-year-old building currently appraised for tax purposes at $11 million.

The company has owned the Stanton Tower office building at 100 N. Stanton St. since February 2008. It’s had offices there since 1996.

Even if sold, the company’s headquarters were to remain in the building through an expected lease-back arrangement with the eventual buyer, company officials said in October.

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The building was to be sold to lower costs for EPE customers and allow the company to focus on its core business of selling electricity to this region, company officials had said.

Vic Kolenc may be reached at 546-6421; vkolenc@elpasotimes.com@vickolenc on Twitter.

This article originally appeared on El Paso Times: El Paso Electric's Downtown headquarters won't be put up for sale yet