BACK ON THE MARKET?
No tenant for ex-Adelphia headquarters

A real estate investor who bought the former Adelphia Operations Building in downtown Coudersport has had no luck finding anyone to lease it.

Bogdan Klek of Klek Development Corp., Lincolnshire, Ill., told a reporter this week that if he cannot secure tenants by late May, he'll probably put the 72,000- square-foot building up for sale.

Klek paid $3.6 million for the property through an internet based auction because he considered the price to be good. The building cost an estimated $30 million to build in 2000-02.

Klek said from the start that he had no intention of ultimately owning, much less occupying, the opulent office complex.

Complicating the issue is the fact that the former Adelphia Operations Building is located in a state-approved Keystone Improvement Zone. That designation grants the owner certain tax advantages that could affect the amount of revenue derived by Coudersport Borough, Coudersport Area School District and Potter County itself.

The deal closed after two online auctions, two defaulted buyers, and an alleged embezzlement victimizing a would-be buyer from Ireland.

Klek's purchase included the brick, marble, granite and bronze building, designed to accommodate 275 employees, as well as about 80,000 sq. ft. of asphalt parking or 258 parking spaces across four different lots.

Adelphia Communications Corporation continues under the management of Quest Turnaround Advisors, LLC, its plan administrator, to liquidate its assets and administer its plan of reorganization.