ADCS Inc. building's auction postponed

By: North County Times | Thursday, February 1, 2007 11:20 PM PST ∞

POWAY ---- A bank has postponed until next month its plans to auction off a high-end Stowe Drive building owned by a defense contractor with ties to disgraced former U.S. Rep. Randy "Duke" Cunningham.

First American Title was scheduled to hold the public auction Thursday at the East County Regional Center on behalf of Union Bank of California. The building, at 13970 Stowe Drive, is the former corporate headquarters of defense contractor ADCS Inc.

The company is owned by Al Dust Properties, which in turn is owned by Poway resident Brent Wilkes. He has been under federal investigation for possible involvement in Cunningham's bribery scandal.

Union Bank scheduled the auction after Al Dust defaulted on $12.1 million the company owed on the Stowe property. On Wednesday, a First American representative said the bank and Al Dust Properties mutually agreed to postpone the sale.

No reason was given, and it was unclear whether the delay meant a potential private sale could be in the works. Real estate broker John Gross, who has been marketing the ADCS building on behalf of Wilkes, said client confidentiality issues prohibited him from commenting on the matter.

Officials for the Poway Unified School District, which has been trying to acquire the building, said they were unsure where the development left them.

"Our attorneys are still ... trying to see if there's still a possibility that we might be able to purchase the building or lease-purchase the building," said John Collins, assistant superintendent for the district.

Cunningham was sentenced last year to more than eight years in prison after pleading guilty to accepting $2.4 million in bribes from defense contractors and others.

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