GGC Foundation Enters in Agreement to Purchase Building on Hwy 316

Georgia Gwinnett College Foundation officials announced today that it entered into an agreement to purchase the Fitness International facility, including all of its sports and training equipment, for $5.5 million. The purchase will also include two acres of land located on Ga. Hwy 316. The 36,862-square-foot facility will provide Georgia Gwinnett College students access to recreation facilities including work-out equipment, basketball and racquetball courts, and a pool.

Georgia Gwinnett College Foundation officials announced today that it entered into an agreement to purchase the Fitness International facility, including all of its sports and training equipment, for $5.5 million. The purchase will also include two acres of land located on Ga. Hwy 316. The 36,862-square-foot facility will provide Georgia Gwinnett College students access to recreation facilities including work-out equipment, basketball and racquetball courts, and a pool.

“This will be a strategic acquisition for the GGC Foundation given its proximity to Hwy 316,” says Georgia Gwinnett College Foundation President Gordon Harrison. “GGC Foundation Chairman Glenn White and Foundation Real Estate Committee Chairman Wayne Mason have been closely involved in these discussions and negotiations. The College greatly appreciates the Board of Trustees’ vision, guidance and support.”

“The student body is eagerly awaiting the use of these facilities,” says Jim Fatzinger, associate vice president for student affairs. “This is an appropriate use of the student recreation fees, and most importantly, provides a facility our students deserve.”

A closing date has been set for February 1, 2008 and the facility will open to Georgia Gwinnett students and employees shortly thereafter.

The acquisition will be made by the GGC Foundation using a local financial institution as underwriter. The facility will be leased to the GGC Foundation and will be deeded to the Board of Regents at the conclusion of the mortgage period.

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