Kennesaw State is selling 3.26 acres of land across from the Marietta campus this month for $1.3 million.
“The property was originally purchased by the former Southern Polytechnic State University in 2013 prior to the consolidation of SPSU and KSU [in 2015],” Assistant Vice President of Strategic Communication Tammy Demel said.
The land was sold to Block C, LLC in Atlanta for $1.3 million, which is more than the average appraised value of just over $1 million based on two independent appraisals, according to a Marietta Daily Journal article.
The 3.26 acres are located at 401 Rose Drive in Marietta, separated from KSU’s Marietta campus by South Marietta Parkway.
Since the purchase, the building has remained vacant, Demel said.
After considering several uses for the property, KSU decided it no longer serves the strategic needs of the university and approved the sale of the property during the Board of Regents meeting on Wednesday, Jan. 8, Demel said.
At Wednesday’s meeting, the BOR’s Committee on Real Estate and Facilities mentioned KSU representatives saying selling this property will save the university money.
“In addition to the expected sales proceeds, KSU would achieve savings by eliminating the maintenance costs associated with the vacant building,” according to minutes from the BOR meeting.
Prior to the SPSU purchase, the two-story, 32,000 square-foot commercial building operated as a multi-tenant shopping center. Block C, LLC intends to revive the facility, which contains retail and office space, according to the Marietta Daily Journal.
