MARIETTA — Kennesaw State University has asked the Board of Regents to authorize the $1.3 million sale of 3.26 acres across the street from KSU’s Marietta campus.
The Board of Regents’ Committee on Real Estate and Facilities will consider the sale at the board’s Wednesday meeting.
The former Southern Polytechnic State University, the school with which Kennesaw State University merged in 2015, purchased the property at 401 Rose Drive, Marietta in 2013.
Prior to that purchase, the two-story, 32,000-square-foot commercial building on the property operated as a multi-tenant shopping center, according to the Board of Regents agenda item.
University officials say the property no longer serves a strategic purpose for KSU, and its sale to Block C, LLC will eliminate maintenance costs of the vacant building.
KSU will also receive more than the property’s appraised value, according to agenda documents. The university obtained two independent appraisals of the property, showing an average value of just over $1 million, the documents state.
The purchaser intends to revive the mixed-use facility containing retail and office space, according to the university.
Tammy DeMel, a spokesperson for the university, declined to expand on KSU’s reason for the decision to sell the property, pointing instead to the agenda document’s text.
KSU President Pamela Whitten did not respond to a request for comment.