realestate

RIT Expands Portfolio with Park Point Property Acquisition

RIT expands real estate portfolio with purchase of former Barnes & Noble site at Park Point.

R
ochester Institute of Technology has expanded its campus footprint with the acquisition of the former Barnes & Noble property at Park Point. The school paid $9.5 million for the 46,000-square-foot building, which sits on nearly one acre of land at 100 Park Point Dr.

    The three-story bookstore was once a central hub in the mixed-use development, but after RIT shifted to a virtual bookstore in June 2022, it has been repurposed as office space. The school had already relocated its finance and administration departments, along with RIT Certified, a workforce development program, to the building.

    With this purchase, RIT gains more space for academic use within the core of its campus. "As the university grows, we need more space in the heart of campus," said Bob Finnerty, chief communications officer. The advancement team is set to move into Park Point this month, further utilizing the property's potential.

Rochester Institute of Technology acquires Park Point property in New York State.