Want to buy McIntyre building Portsmouth? Here's what to know about auction starting soon

PORTSMOUTH — The online auction of the Thomas J. McIntyre federal building property is “tentatively scheduled” to open Tuesday, June 20, according to a spokesperson for the General Services Administration.

The auction for the 2.1-acre site in the heart of downtown Portsmouth at 80 Daniel St. is expected to begin at 9 a.m. on that date, according to Paul Hughes, a spokesperson for GSA, which owns the property.

“A closing date for the auction has not been determined,” Hughes said. “Once GSA does select a closing date, it will be posted on the auction website with advance notice.”

The minimum bid for the property is $5 million and bidders must preregister and make a $1 million deposit.

Hughes said "any updates regarding the bidding process will be posted on the auction website.”

The site features a “4-story steel-frame masonry office building of approximately 107,000 square feet of gross building area with forty-four (44) indoor parking spaces and a two-tier outdoor parking lot with ninety-one (91) spaces,” according to the GSA’s description of the property.

“The property is listed on the National Register of Historic Places as a contributing building to the Downtown Portsmouth Historic District,” according to the agency.

Hughes said as bids come in, they “will be posted in real time in the ‘Bid History’ section of the auction web page as they are received.”

“At the close of the auction, the high bid will be considered for acceptance by the government. The government reserves the right to accept or reject any or all bids,” Hughes said Monday.

A sign at the property — which is located close to both Market Square and the city’s popular waterfront — alerts people to the sale by online auction.

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Portsmouth mayor's take on McIntyre auction

Mayor Deaglan McEachern acknowledged “the city is not entering into the bidding process,” but stated that the online auction is “typically a 30- to 45-day process.”

“What I’m hopeful for is whoever walks away with the rights to develop the site does so in a way that brings folks together as much as possible,” McEachern said Tuesday, when asked about the auction. “They’re obviously going through our land-use boards.”

“There’s an opportunity for a developer or development team to look at that site and say, 'This is something that can be a win-win for the city,'” McEachern said. “It can be celebrated by as many people as possible. There’s an opportunity to do something great there."

Asked if it matters to him if a local or out-of state developer gets the property, McEachern said, “If it’s a local developer and they have a great idea that’s fantastic, if it’s someone not local but they have a better idea, that’s even better.”

“We’re the city of the open door. I think I’d be more focused on what the idea is, not whether or not they’re from here or not,” McEachern added.

Auction comes after Portsmouth, development partner failed to reach deal

GSA officials announced in early May they would put the property up for sale. The announcement came a day after the City Council voted not to move forward with the agency on a negotiated sale of the property for $20 million to $25 million, which the agency estimated was its fair market value.

“Since the City Council has voted not to proceed with a negotiated sale, GSA will begin the competitive sale process utilizing an online auction,” Hughes said at the time.

The city had tried for years to acquire the property for $1 through the federal Historic Monument Program, working with their private development partners, Redgate/Kane.

The GSA dropped Portsmouth from the program when it did not submit a formal redevelopment application to the National Park Service by the March 31 deadline.

The city and Redgate/Kane, who had threatened each other repeatedly with legal action, then filed lawsuits against each other.

This article originally appeared on Portsmouth Herald: McIntyre building auction in Portsmouth NH to begin bidding at $5M