CFO buys MSU's Meyer Alumni Center

Community Foundation of the Ozarks Inc. and Missouri State University this morning announced a multimillion-dollar downtown building purchase by CFO that will mean relocations by the nonprofit and the university's foundation.

CFO on Feb. 12 penned a contract with MSU to buy the Kenneth E. Meyer Alumni Center, 300 S. Jefferson Ave., for $5.8 million, said MSU Foundation Executive Director Brent Dunn. The deal's closing is scheduled Feb. 27, he said.

The MSU Foundation, which currently operates in the Meyer Alumni Center, will relocate to a new building planned at MSU's campus, said Dunn.

Officials with CFO and MSU were on hand this morning at a news conference held at the Meyer Alumni Center.

CFO, which currently operates at 425 E. Trafficway St., plans to occupy vacant space on the fourth floor of the Jefferson Avenue building after infill work is completed by early next year. The MSU Foundation plans to lease back its space until its move to campus, and it will continue to manage and operate the building until 2026.

"This is a game-changer for both organizations," Dunn said. "This is a good deal for them. This is a good deal for us.

"This is a great, historic day."

CFO President and CEO Winter Kinne said the nonprofit's move from its current space on Trafficway is needed.

"We've got people tucked into nooks and crannies," she said. "We don't have enough parking on Trafficway."

R.B. Murray Co. CEO Ryan Murray brokered the deal after learning about the foundation's planned move to campus, officials said.

With CFO as the building's owner, its existing tenants will remain, Kinne said. Beyond the MSU Foundation and other school services, the building houses tenants including GHN Architects Engineers and Arthur J. Gallagher & Co.

The new building at the MSU campus is in the early stages, Dunn said.

The alumni building would be constructed across Bear Boulevard from the Davis-Harrington Welcome Center along South National Avenue for $18 million to $20 million, Dunn said. The site is currently a parking lot.

The MSU Board of Governors at its meeting tomorrow is scheduled to vote on a contract with Dake Wells Architecture Inc. for design services for the new building, Dunn said.