This is interesting, a 35 acre property on Philadelphia’s Main Line is coming up for sale at an expected price of 50 million dollars. The property was the former home of American College, a educational center for the insurance and financial industry. The student body now does 95 percent of its training online, and the need to maintain this campus was not needed.
The college, located at 270 S. Bryn Mawr Ave. in Bryn Mawr, is a nonprofit that provides continuing education to the insurance- and financial-services sector. Ninety-five percent of its students never visit the campus, where the school has been located since the early 1960s.
A broker who is marketing the property, Peter Stevens of CB Richard Ellis (NYSE: CBG), called the sale “a once-in-a-generation opportunity” to get such a property on the prestigious Main Line.
But every now and then such special properties hit the market. Last year, St. Joseph’s University bought Episcopal Academy’s 38-acre Lower Merion campus. And in 1998 Villanova University bought from Sun Co., now Sunoco Inc. of Philadelphia, a conference center on a 32-acre parcel in Radnor. via the Philadelphia Business Journal
This is an amazing property to be coming up for sale at this time.
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