Wells College has appointed international real estate firm CBRE to oversee the sale of its campus in Cayuga County, as part of efforts to meet financial and regulatory obligations, according to the college’s October alumni newsletter. The move follows the college’s earlier announcement of its closure, citing financial challenges and declining student enrollment.
CBRE’s Syracuse office, which specializes in selling college campuses, will handle the sale, while Christie’s will manage the sale of non-real estate assets, including items from historic buildings. The campus, which features several structures on the National Register of Historic Places, is being winterized ahead of the transition.
Wells College initially announced its closure in April, highlighting inflation, shrinking student numbers, and a growing negative sentiment toward higher education as key factors.
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