Wells College is attempting to sell its 127-acre campus after closing in 2024, but a right of first refusal agreement with alumna Pleasant Rowland presents a major challenge.
According to new reporting by The Citizen, Rowland, founder of American Girl, has the right to purchase the property before any other buyer.
This clause discourages potential investors, as it allows Rowland’s LLC 30 days to decide on any offer before the college can proceed.
However, the restriction does not apply if the campus is sold to another educational institution. Despite outreach to over 400 schools, interest has been minimal.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].