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Tue Jan 24, 2017, 07:45 PM

Wilberforce University looks to sell part of campus

Wilberforce University is looking to sell two student activity centers on its campus in a bid to raise money.

The Greene County school is exploring the sale of the Alumni Multiplex and the Stokes Health and Wellness Center, which sit on 10 acres of campus off North Bickett Road. The land has an asking price of $7 million or roughly $143.50 per square foot for the 48,800 square feet of building space there, Wilberforce President Herman Felton said.

The school is looking for a buyer to lease back its property after the sale. Its terms would call for a lease of up to 65 years with rent increasing 1.5 percent annually. The two buildings host the school's sports, student activities and gatherings.

"We are exploring all opportunities, to include, leveraging some of our existing assets to arrest some of our debts, address some deferred maintenance and to ensure we continue providing the best experience possible for our scholars and student-athletes," Felton said.

Read more: http://www.bizjournals.com/dayton/news/2017/01/24/wilberforce-university-looks-to-sell-part-of.html

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