Factory to get new occupant

The property swap of two Cape Girardeau businesses was finalized Tuesday, sending a fabrics company and a shoe manufacturer to new homes better suited to their future plans.

The old Florsheim Shoe manufacturing plant -- most recently occupied by Cape Shoe Co. at 1600 West End Blvd. -- now belongs to RM Coco Fabrics 21, said commercial broker Tom Kelsey, who helped close the multimillion-dollar deal Tuesday afternoon.

The Cape Girardeau-based fabrics company exchanged its distribution facility at 2355 Rusmar for Cape Shoe's 94,000-square-foot plant that sits on 12 acres along Southern Expressway.

"It's an enhancement for both businesses," Kelsey said. "From the standpoint that one needed to enlarge and one needed to get a facility more in line with what they needed, it will benefit both." Exact terms of the deal were not released by either party.

RM Coco president Jim Rust said the new building will allow his company to consolidate its manufacturing and distribution facilities into one building, unlike the two buildings required now.

The company sells multipurpose fabric for upholstery, drapery and bedding.

It also manufactures finished products and distributes them across the country, Rust said.

"Having everything under one roof cuts down on transportation costs between the two buildings," Rust said. "It's better from a management standpoint, but we're also out of room."

Rust said plans call for remodeling the Cape Shoe building, adding 20,000 square feet in new offices and additional windows.

First-of-year goal

Bids are expected to go out in August, with remodeling done by Christmas. The company hopes to occupy the building by the first of the year.

In the meantime, it will continue leasing its property on Rusmar from Cape Shoe until the first of the year.

RM Coco has experienced growth and now has 100 employees and more than 12,000 accounts. In June, it bought a competitor in California called Fabrics 21, a well-established operation.

Cape Shoe owner Eli Fishman said his company realized after two years of operating the work boot and shoe factory out of the 94,000-square-foot old Florsheim building that it was too big for the company's needs.

"We had a lot of space and cost associated with space we weren't using," Fishman said. "We're going to go into space that is a little bit more suitable. A lot of companies save money by getting rid of people and keeping the building. We're keeping the people and getting rid of the building."

But he's not sure if the RM Coco building is right either. While RM Coco begins renovating its new building, Cape Shoe will lease the old Ralph Edward's Sportswear on Broadview.

Fishman said he doesn't know yet whether his company will stay at the old Ralph Edward's sportswear building.

The company still may move into the building on Rusmar.

"All we knew was that building was too big for us and we needed to eliminate some overhead," he said.

The company makes work shoes and boots and employs 40 people, many of whom previously worked for Florsheim.

smoyers@semissourian.com

335-6611, extension 137