Stockton to Purchase Parking Lot in A.C.
Galloway, N.J. - The Stockton University Board of Trustees has approved the purchase of a parking lot at 3428 Atlantic Avenue in Atlantic City.
The property, located behind the Stockton Rothenberg Building is owned by the City of Atlantic City. City Council approved an ordinance authorizing the sale in November. The Stockton Board of Trustees Executive Committee authorized moving forward with the purchase in November and a formal resolution was included on the agenda for the Dec 9 board meeting.
The 11,982 square-foot site, known as Block 185, Lot 2, will support facilities and operations at the Rothenberg Building and the Atlantic City campus. It is adjacent to the new Stockton residential facility being constructed at the Atlantic City campus.
The site is being purchased for the appraised value of $383,000.
“We are buying the parking lot for use by our Rothenberg Building employees and guests,” said Vice President for Facilities and Operations Donald Hudson. “The property also gives us growth potential for future expansion.”
The Rothenberg Building, a former law office purchased by Stockton in 2016, currently houses the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton, and the Stockton Office of Continuing Studies.