The college's low density campus includes 220,000 sf in eight buildings situated on 28 acres that could hold still more buildings, and two wooded six-acre parcels that do not hold any buildings. Current facilities include classrooms, a chapel, dining rooms, an auditorium, residence halls, gymnasium, indoor swimming pool and fitness center. Sage on Aug. 1 sent its offering to some 230 public and private universities, commercial colleges and high schools at the behest of Trinity, which prefers that the property continue as a center for learning.

Norman says the market will ultimately determine the price of the property, but it could sell for "anywhere from the high $20 millions to the high $30 millions," which is one half to one-third of what it would cost to reproduce the campus on raw land, he says.

Because of the tremendous interest among institutional purchasers, Norman says it is highly unlikely the property would ever be sold to residential developers. In addition to the would-be educational buyers, however, Norman says there also is interest from senior care developers, as the Trinity Campus is surrounded by variety of seniors housing.