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Two large Cape Girardeau commercial buildings have
been sold, one of them the former Florsheim Shoe manufacturing plant,
most recently occupied by Cape Shoe Company at 1600 West End Blvd.
Tom Kelsey, broker with Lorimont Place, Ltd. who
handled the multi-million dollar transaction said Cape Shoe Company and RM
Coco Fabrics 21 purchased each others properties.
The 94,000 square foot
former shoe manufacturing plant on 12 acres was purchased by the
fabric distributor and will combine their distribution and manufacturing
divisions into one facility. Jim
Rust who heads up the company announced that they would begin extensive
renovations on the property including new offices and other
modifications to accommodate their growing operation. Plans are to be in
their new property by January 1, 2003.
Kelsey said that Cape Shoe Company, headed by Eli
Fishman would resell the 26,000 square foot RM Coco Fabrics property he
acquired in the transaction located at 2355
Rusmar. Lorimont has the
exclusive sales listing and the property and is currently being offered
for sale.
Cape Shoe will
immediately move to leased space in the former Ralph Edwards Sportswear
building in Cape Girardeau, so renovations may begin on the former shoe
plant and the RM Coco group will lease their building from Cape Shoe
until the first of the year.
Fishman, who intends to continue manufacturing his
shoe line in Cape Girardeau found the former Florshiem building that he
purchased in January of 2000 was much too large for his manufacturing
needs and wanted a smaller building for economies of operations.
Cape Shoe has
been nationally recognized for their 100% American made products and
Fishman says their shoe sales continue to increase throughout the
country.
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