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Real Estate Acquisition Permits College Science Center Development

Hodgson Russ worked with a private college to close on its acquisition of an adjacent complex, presenting the college with long-awaited opportunities to develop an interdisciplinary science center and solve its parking issues. The work began years earlier, when the college initiated the purchase of what was then the headquarters of a local health care company, along with an adjacent parking ramp, after the company announced its plans to build a new facility near the city’s waterfront. Hodgson Russ attorney Terrence M. Gilbride guided the college through signing a long-term purchase contract that allowed it the time necessary to raise funds for the $18.5 million purchase while preventing the site from sitting vacant for the time between the signing and closing of the deal. It also expanded the college’s footprint and connects the school with its athletic center.