1/22/2014 10:23:00 AM CORRECTED: Jesuit High buys shopping center next door
Jesuit High School graphic
Jesuit High School has purchased a 14-acre shopping center just west of the school, increasing the school's footprint by about 40 percent.
"The acquisition of Valley Plaza property is a significant investment in the future of our school. This purchase allows us to plan for Jesuit’s future meaningfully and deliberately," says a letter sent to parents and supporters before Christmas.
Jesuit's leaders have been investigating the purchase of Valley Plaza Shopping Center for about a decade. There are no plans to expand enrollment beyond the current 1,260 range and no concrete strategies yet for how the parcel will be used in the future. Jesuit had already been leasing parking spaces at the site.
Businesses have at least seven years left on leases. The center includes a skating rink, movie theater, sporting goods store, pizza place and a Starbucks, in addition to other businesses.
The letter to parents says no tuition money was used for the purchase and will not be spent on property maintenance. Jesuit officials have declined to detail what the school paid, but said "well more than half" came from anonymous donors. In 2012, a portion making up about a third of the center was listed for sale at $8.8 million.
A Jack in the Box restaurant facing Beaverton-Hillsdale Highway was excluded from the sale.