http://www.bizjournals.com/southflorida/news/2015/03/05/art-institute-sells-fort-lauderdale-campus-to.html
7 replies (most recent on top)
As the cookies crumble. Sink or swim peeps!
I am very familiar with this campus, the school renewed it's lease 2 years ago, the developer aquired the remaining parcel for a waterfront mixed use developement and in consideration of taking the 500 plus parking spaces built a 5 level parking garage for the use of the school. The parking garage was delivered end of 2014 and EDMC recently completed about $2.8 mm in renovations, upgrades and deferred maintenance....
8-9 campuses doesn't seem like much given how poorly the company is performing. Do you think Ai Phoenix is one of them?
Fort Lauderdale had two buildings, separated by a busy street. I read this that one building sold to the developer, the other continues to be leased by Ai. The larger building was closer to the water and probably the one they sold. If this is the case, it is a sizeable downsizing for the school
The Fort Lauderdale campus occupied buildings on opposite sides of a busy street. I read this as the larger building, which was waterfront, sold. They may be consolidating into the remaining building.
Any thoughts on which 8 or 9 campuses are closing? Also, do you think that the presidents at these campuses know that they're closing at this point?
AI is closing 8-9 campuses...this must be one of them.