Collegium Charter School continues to expand its presence in the Oaklands Corporate Center in Exton, as it just purchased another pair of buildings for $28 million, writes Natalie Kostelni for the Philadelphia Business Journal.
The school has paid $16.85 million for the 80,879-square-foot building at 150 Oaklands Boulevard and $11.15 million for the 60,444-square-foot building at 515 James Hance Court. These latest acquisitions use funds raised from its recent $43 million bond issue.
This brings the school’s total square footage in the Oaklands Corporate Center to around 300,000, spread across four buildings.
Since its founding 18 years ago, Collegium has spent more than $50 million buying real estate to accommodate its 2,800 enrolled students. According to Beth Jones, chief operating officer and acting CEO at the school, Collegium prefers to own its space rather than lease it, as it saves money over time.
“We have greater flexibility to use the space and modify it as we see fit rather than ask the landlord,” said Jones.
Some of the remaining proceeds from the bonds will now be used to finance the construction of a new performing arts center at 515 James Hance Court.