University Buys Former Museum Building in EscondidoTuesday, May 14, 2013
John Paul the Great Catholic University has purchased a commercial building in downtown Escondido, where it plans to relocate its Scripps Ranch campus.
According to a statement, the locally based school plans to begin operations July 1 in a space at 155 W. Grand Ave., which previously housed a satellite location of Mingei International Museum. The university has leased 22 apartments in the new Latitude 33 apartment complex in downtown Escondido, and plans to lease other spaces in the vicinity to house faculty and related offices.
The university said it has submitted a letter of intent to purchase another commercial property in the downtown area.
A statement from San Diego-based brokerage firm CDC Commercial Inc., which represented the buyer, said the university paid $1.85 million for the 23,900-square-foot building that previously housed the museum branch, which closed in 2010.
The seller of the building was Mingei International Inc., represented by Coldwell Banker Commercial.
The university, named for the late Pope John Paul II, offers degree programs in theology, communications, media and business.
— SDBJ Staff Report