UNIVERSITY PARK, Pa. — The Board of Trustees Committee of Finance, Business and Capital Planning voted today (July 16) to recommend to the full board the purchase of 225 Science Park Road in State College.
Penn State began leasing the 120,000-square-foot property, which currently houses the Applied Research Laboratory’s undersea systems office, in 2009.
The University’s lease agreement gives Penn State the option to purchase the property for $26.7 million.
The proposal goes to the full board on July 17 for its consideration.