Downtown Bryan University office building listed on market

Last edited 1:55 p.m., June 2, 2014

The downtown home of Bryan University's Springfield administrative offices has been listed on the market.

A former elementary school built in 1908 that served in the Springfield Public Schools district until 1968, the 237 S. Florence Ave. building was converted into offices in 1992. The brick building was purchased and renovated in 2003 for current tenant Bryan University, according to the Wilhoit Properties listing.

Wilhoit Properties broker Ken Schwab declined to name the owner of the 24,300-square-foot property, which is listed under ownership by GDS Holdings LLC with the Greene County assessor. Schwab referred questions to university leaders.

The listing markets the building for sale at $1.6 million and notes Bryan University has plans to vacate the property. The building also is available for lease at $16,200 per month.

Bryan University President Brian Stewart said a dozen systems administration employees work out of 23,000 square feet in the downtown building. He said the school would be willing to continue leasing space in the building, but does not require the amount of square footage currently leased. The university operates its Springfield campus at 4255 S. Nature Center Way.

The property is adjacent to a proposed $38 million student-housing complex planned on 4.4 acres that includes the former Colonial Bread building on St. Louis Street. Austin, Texas-based Aspen Heights is planning a 564-bed apartment complex, for which Springfield City Council recently approved 100 percent property tax abatement on new improvements for the first 10 years and 50 percent abatement on new improvements for years 11-25, according to Springfield Business Journal archives.