Schools See Opportunity in Office Glut, Snatch Up Vacant Downtown Buildings

Colleges and universities are snapping up unused office buildings and converting them into academic spaces as the office market slumps.
Schools can often buy office buildings at bargain prices compared to building new facilities. Renovations are usually cheaper too.
Prominent schools like UCLA and George Washington University have purchased vacant downtown office buildings recently.
Converting office buildings can benefit schools needing space and downtowns lacking activity. But it may remove properties from tax rolls.
Challenges include ensuring classrooms get natural light and adapting spaces like lobbies to be more welcoming for students.