PCC recently retained Scott Kappes of CB Richard Ellis to market the single-story tilt-up as an investment/redevelopment opportunity after working a deal with local real estate investor Barry Menashe to purchase approximately 10.3 acres across 82nd and just north of Division. The lot is currently occupied by two vacant former retail buildings totaling 100,000 sf, one of which will be torn down and replaced elsewhere on the site and one of which will be renovated and expanded. The purchase price was upward of $5.7 million.

If the old campus sells before the new campus is completed, PCC would likely hope to execute a sale that includes a 12-to-18-month leaseback. "I don't know what the originally purpose of the building was, but the space is not very efficient for a college," Randy McEwan, the college's vice president of administration, tells GlobeSt.com. "It'll be a great building for someone else, but because of the way the utilities are laid out, our renovation options were very limited and adding more space would have been difficult to impossible."

Kappes concurs with the limited expansion ability, telling GlobeSt.com that the parking ratio on the site is 5:1,000 sf, "and that's really what's likely going to be necessary for whoever ends up taking the space." Speaking of which, since he owns the property PCC is buying, might Menashe be interested? "I've looked at it" is all he would say on the matter.