LEMONT FURNACE, Pa. -- Penn State's Board of Trustees approved today (July 12) the purchase of a State College property that will provide the University with strategic expansion opportunities, including bringing much of its information technology (IT) staffing and resources together in one location.
The parcel at 300 Science Park Road, Ferguson Township, consists of 8.54 acres and includes a 108,000-square-foot, three-story office building -- the former Raytheon Building No. 7 -- and a paved 415-space parking lot. The property is located about two-and-a-half miles from the Old Main building at University Park.
Penn State will purchase the property from Inland Western State College Science Park DST, a Delaware statutory trust, for $11.5 million, said David Gray, senior vice president for Finance and Business.
"The main reason for this purchase is to provide additional space for Information Technology Services personnel and equipment," said Gray. "The ground and first floors will be used to consolidate staff who are currently dispersed in numerous locations."
"We have IT resources squeezed into spaces all around campus and in leased spaces around town," said Daniel W. Sieminski, associate vice president for Finance and Business. "This acquisition not only helps to consolidate these resources, but also frees up much needed space on campus and will reduce our lease costs."
Gray added that for the next five or six years the top floor will be used for the team that will be implementing Project LionPATH, (link to: http://projectlionpath.psu.edu) the replacement of the University's original Integrated Student Information System (ISIS). ISIS manages student records from admission through graduation, including billing, course scheduling, student aid, and transcripts.
The acquisition is contingent upon the property being determined to be in acceptable condition by campus representatives and the Office of Physical Plant.