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No plans now to re-list property for sale
Texas firm cancels purchase of Jensen-Byrd building
Tuesday, Aug. 7, 2012
By Darin Watkins, WSU News
SPOKANE, Wash. – An Austin, Texas-based company has withdrawn its offer to purchase the Jensen-Byrd building in Spokane from Washington State University. Representatives of Campus Advantage have notified the university the company will not exercise its option to purchase the property located adjacent to the Riverpoint campus.
Proceeds of the sale were to be dedicated to WSU’s Health Sciences programs in Spokane. Last December, the WSU Board of Regents approved the sale of the 1.48-acre complex for the purchase price of $2.85 million. Campus Advantage had earlier agreed to a May 31, 2013 closing date.
"The buyer had agreed to a closing date when we negotiated the contract last year,” said Mel Taylor Executive Director of Real Estate and Local Relations at Washington State University. "Due to the opposition of this project, Campus Advantage could not meet that closing date.”
WSU has no immediate plans to relist the property for sale.
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Contacts:
Brian Pitcher, Chancellor – WSU Spokane, (509) 358-7551 bpitcher@wsu.edu
Darin Watkins, WSU (509) 335-4456, darin.watkins@wsu.edu
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