Campus Expands With Building Purchase
Nov. 30, 2012
Cal State Fullerton's campus property has expanded by 3.6 acres with the close of escrow on the building that currently houses the Western State University College of Law. The facility is located across the street from the Visual Arts Center at the corner of Dorothy Lane and State College Boulevard.
The CSUF Auxiliary Services Corp. purchased the 86,500-square-foot building for $18.25 million Oct. 3 following the CSU Board of Trustees authorization in September and issuance of systemwide revenue bonds for the purchase. The debt will be paid with rental income, initially from Western State College of Law, which will continue to occupy the building for up to three years.
"This is an important acquisition for CSUF. We are a very densely populated campus," said Jay Bond, associate vice president for facilities planning and management. "Our facilities are quite limited for the number of students we serve. This building allowed us to purchase a facility that is already suited for educational purposes. Additionally, since we are essentially landlocked, opportunities like this are strategic for our university and for our future."
Efforts to purchase the property began in 2008, but the sale was not completed at that time, explained Frank Mumford, ASC executive director. "Another opportunity arose in 2012. This time, conditions were more favorable, and the purchase was able to be consummated."
Prior to CSUF tenants moving into the building, a $4 million seismic retrofit to the structure is planned and will be funded from the current rental. The University will then lease the space, as needed, similar to the 30-year arrangement for its use of the College Park Building, which was purchased by the ASC in 2000.
A campus committee is considering the units to be housed in the facility at 1111 State College Blvd., a four-story structure built in 1974 and an additional two-story building with basement built in 1997. University Extended Education is expected to be among those slated for future occupancy.