A downtown Bryan building owned by the city for 20 years is returning to private ownership.

The city council voted during a special meeting Thursday afternoon to sell the Federal Building at 26th and Parker to a local company.

City manager Kean Register says the city received the full asking price of $925,000 dollars. After expenses, the net revenue will go into the city's general fund.

Register says the sale to a local company, CEO Technologies, followed the decision to end the building's use as a business incubator.

The council came out of an executive session and approve the sale by a 3-1 vote. Mike Southerland says the city needs buildings for other purposes, mentioning a senior center or to house non profit agencies dislocated by BTU taking over the former army reserve center.

BTU general manager Gary Miller told WTAW News the former armory is one of the options in the event they have to move in the next two to four years from their offices to reduce overcrowding across the parking lot at city hall.

The Federal Building has been the home of the SEAD art gallery and bookstore and the Advent GX consulting company. Advent GX owners Jose and Joan Quintana told WTAW News they had hoped to raise the money to buy the building to "continue with our community and economic development mission in our beloved historic downtown Bryan." The Quintana's also said they "understand that decisions have to be made based on the ever evolving needs of our community so we will always be grateful to not only the great professionals in our city staff but also our community at large."