Johnson & Wales University Puts 25-Acre North Miami Campus on Market
The university in late June said it's closing the North Miami location where it offers culinary and other hospitality degrees.
Johnson & Wales University is looking for a buyer of its 25-acre North Miami campus as its location offering culinary and other hospitality degrees is closing next summer.
Johnson & Wales retained brokerage CBRE Group Inc. to market and manage the sale after announcing in late June it’s closing this site along with its Denver campus.
No asking price was listed.
The North Miami campus has 18 buildings, a garage and five parking lots across 28 parcels centrally located along the west side of Biscayne Boulevard roughly Northeast 123rd Street north to 130th Street.
The main address is 1701 NE 127th St., where the University Center is located, but its classrooms and dormitories as well as student amenities are across several, non-adjacent lots.
The opportunities for the buyer include keeping the site for educational purposes or retrofitting into a mixed-use project with offices, retail and multifamily.
The coronavirus pandemic has unraveled South Florida’s once thriving hospitality industry that was a major employer and economic engine in the region. Thousands have been either furloughed or laid off as a result of temporary closures of nonessential businesses and a general reluctance among patrons to dine out or stay in a hotel.
Miami-Dade County leads the state with 139,271 reported COVID-19 cases followed by Broward County with 64,080 cases, according to state data. Palm Beach County has the third highest number of cases at 37,934.
Johnson & Wales in June said the challenges posed by the pandemic were considered in the decision to downsize and overall the two campuses weren’t poised to meet 2022 financial goals.
The university was started in 1914 as a business school and opened its North Miami campus in 1992 educating and training many of the region’s hospitality workers.
Johnson & Wales is keeping its campus in Charlotte, North Carolina, along with its Providence, Rhode Island, campus offering various graduate and undergraduate degrees.
CBRE higher education specialist Nina Farrell in Austin, Texas, and capital markets senior vice president David Wigoda in Miami will lead marketing. They will work with Southeast regional manager of public institutions and education solutions Lee Ann Korst in Tallahassee.
“Johnson & Wales’ presence in the North Miami market has long contributed to the positive growth of the community,” Farrell said in a news release. “Recognizing this role, JWU is seeking a buyer who not only brings the highest value but will continue to positively influence the surrounding community.”