David Carlos, head of nonprofit, education and government practice for the tri-state area at JLL, explains the trend toward property sales on U.S college and university campuses.
What’s happening with real estate on U.S. college campuses?
Across the country, colleges are grappling with defunding, shrinking enrollments, rising operating costs and changing student expectations. For some, unfortunately, these challenges are too much. Since 2020, at least 81 colleges have closed or merged. For others, it means finding smarter ways to manage their real estate by monetizing assets. Real estate is no longer just a backdrop to the mission but a tool for fulfilling that mission.
What is creating this situation?
The most critical issue is demographics. We’re approaching a demographic cliff where the number of high school graduates will drop by 15 percent to 27 percent over the next five years. That a
