BRIEFLY : Colleges: Marymount Loses Bid for Site
Marymount College lost out on its bid for Northrop Corp.’s research and technology center on Crest Road in Rolling Hills Estates.
Northrop accepted a higher offer of about $17 million from an unnamed spa company, a source said.
The college’s bid was between $14.5 million and $15 million.
“They can’t compete with those figures,” the source said.
Competition for the 34.4-acre site intensified when Marymount delivered an offer to Northrop after a special meeting of the college’s board of trustees last month.
College officials said they hoped to begin classes at the new campus in September, 1995. President Thomas McFadden said the site would have allowed students now housed in San Pedro to live on campus.
“We’re disappointed,” McFadden said Monday. “We really think it would have been a very good site for the college.”
The Northrop site, which has seven buildings, was built in 1961 and has been for sale since 1991.
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