FACILITIESPENDING

Bristol Community College Board of Trustees Meeting Minutes 2026-05-04

Lease Renewal Negotiations for New Bedford Campus Underway

$16 per square foot (current lease); purchase price $9M; city assessment $5.5MBristol Community CollegeSTORE CAPITALMay 4, 2026

Trusted by teams at

Description

Bristol Community College is negotiating a renewal of its New Bedford campus lease at 800 Purchase St with STORE Capital. The current lease expires in October 2026, with four 5-year options to renew and a 1.5% escalation, or a longer 10-year term under consideration.

Contract Details

Contract Amount

$16 per square foot (current lease); purchase price $9M; city assessment $5.5M

Vendor

STORE CAPITAL

Agency

Bristol Community College, MA

Contract Type

FACILITIES

Document Date

May 4, 2026

Contract Term

Current lease expires October 2026; four 5-year options to renew, or potential 10-year lease under negotiation

Renewal Date

2031-10-31

Renewal Info

College has four five-year renewal options with STORE Capital at 1.5% annual increase; negotiations ongoing to potentially lock in a 10-year lease with lower escalation.