The University recently completed the purchase of the Industrial Electric Service Company building at 1601 Samoa Boulevard, Arcata, for $2.5 million with a loan from the California State University Chancellor’s Office. The structure offers 51,500 square feet of space on a 7.3-acre parcel. It will be used for Shipping and Receiving, most Plant Operations functions and bulk storage.
The campus is pursuing Capital Improvement funds to repay the loan. In the interim, repayment is being made through a lease to the campus.
It will take about a year to make the building fully ready for use. Minor seismic upgrades, roof repairs and office refurbishment are planned at a cost to be estimated shortly.
The University has leased the Annex Building, purchased by the Advancement Foundation for $1.675 million. The annual lease payment is approximately $134,000, a return of 8 percent to the Foundation.
The first phase of Annex modernization is expected to take about a year and the building will be given over to educational support services. Initial plans call for restoring the building exterior, including paint, windows and roofing; and providing new offices and conference space at a total estimated cost of $1.5 million.