SCAD BUYS CRITES HALL FOR $2.6M

SAVANNAH, GA. — The Savannah College of Art and Design (SCAD) has purchased the 39,650-square-foot Crites Hall, located at 217 Martin Luther King Jr., Blvd. in Savannah, from GE Capital for $2.6 million. SCAD originally signed a 10-year lease for the building in December 2000. The buyer has invested more than $2 million in renovations. The building contains classrooms, lecture halls, dance rehearsal studios, a 150-seat theater, a set design shop, offices and conference rooms. Rex Benton and Dickey Mopper of Savannah-based NAI Savannah represented the seller in the transaction.