Why students and real estate brokers are each waiting for more news about ITT Tech’s future

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MADISON, Ala. (WHNT) — ITT Technical Institute campuses nationwide, including the campus in Madison, are closed. This leaves students and also, some real estate brokers in the Tennessee Valley, questioning what’s next.

Ashley Wallace, a former ITT student, is starting to believe she made the wrong choice when choosing to go to ITT Tech for her business management degree.

“I saw the commercials, with their job placement, internships,” she said. “I thought it would be a good path… maybe I should have done some more research.”

We have resources posted here for you, if you’re a student who can identify with Ashley and need some help moving forward.

ITT Tech’s financial woes are also affecting real estate brokers at NAI Chase Commercial, like James Lomax, who are waiting for word about whether ITT Tech will break its lease. ITT occupies part of the Meadow Green Center complex in Madison.

“There is a little bit of a waiting game,” said Lomax. “They’ve been a supreme tenant up until this point. Very little complaints.”

He said it would be “best for everyone” if ITT were able to somehow survive what it’s going through. If that’s not the case, though, he says NAI Chase Commercial brokers will be ready.

“We’re pretty confident in the ability to be able to re-lease this,” he said about the building, “should anything happen. But the fact of the matter is we don’t know any details at this time. We know as much as everybody else does.”

For now, brokers are just like students: waiting for answers.

“We custom-built this space for [ITT Tech] in 2008, and did some improvement since then,” said Lomax, adding he’d hope to see another education provider move in if ITT were to leave.

Wallace said she’s not giving up hope either, and is working on ways to recover from this education transition.

“For [my son] Liam,” she said, “I can’t give up.”