College Campus in Nashua Sold for $12 Million
The former Daniel Webster College campus in Nashua was sold Monday for nearly $12 million. That’s about half of the property’s recently assessed value.
There were more than half a dozen bidders present at the college during Monday’s auction. Bidding started at nearly $7 million and ended at $11.6 million.
The winning bidder got 13 buildings, comprised of classrooms, dorms, a gym and cafeteria.
The buyer has not been disclosed, but the property’s real estate agent says the intended use is educational.
Southern New Hampshire University, which had earlier declined to purchase the main campus, bought the property’s airport hangar and tower, for $410,000 - a little over a fifth of what the two buildings were recently appraised at.
Jim Smith heads the Aeronautics program at SNHU. He says with the purchase of these buildings SNHU is planning to launch its own flight program next fall.
“It’s something Daniel Webster did in a different form some years ago, so we are kind going back to the roots," Smith said.
The program will be a 4-year degree where participates will graduate with a bachelors in aeronautics and a certified pilot license.
All sales must still be approved by the bankruptcy court.