Mar 11, 2022, 4:33 PM
(From Inside Higher Ed) As the pandemic wanes, many institutions are re-evaluating their campus footprints and looking for ways to reduce their occupancy costs and potentially sell lease-back properties, experts say. Southwestern University in Texas, for example, sold for tens of millions two properties that it has held since the 1930s. Gwynedd Mercy University in Pennsylvania, for example, recently sold a 154-acre property for more than twice what it paid for the land three years ago. “We have to take into account the fact that some folks are working more remotely than we were before, but we haven’t made any decision to have a smaller footprint,” said Deanne H. D’Emilio, president of Gwynedd Mercy.
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