Bankrupt Celadon plans to sell 102-acre campus

Please subscribe to IBJ to decode this article.

deslrt stpoipwnIo ndsis ussbio stsaeAld w stdekdnponnn tgI il saudlbin alnir l—nss.ildae t.ilnsi ea-tsni,naupcGnCloaytotaicgaues lsa bh ceesir

iisrl2 vCn0 h intmsoif. oceat e aI nsaduo lbdaenieehove tnnas odindhryes aittte,dehrrtnla1eiutlord an,potylsd ip nleenwnas p t nov toupo at, i—eeooacbf t s lisltt nutrdatosp slets rciaiyl .ishSsa waeieaars

ci1nu"espt 3l lndoatia"i"indyg-o d"o9/eacw 0ic[tg-ltplifgp"1h1u<1rtlrc= e2tci.s[sh0p-dhr 2/l1anpgims=i3ca-20tbrmha] m wgg>"7tmthn"3 "ga= =jz=2""nwi1ncti.g/lrhcote"1aiea3s/ap/Gg1h0-"aij=gihwihtn_="t1/9=]rpct. me/duc32il1: -g"/so/e""i

tase“ae h g n nTsemed ea ttetesr s tnrictaooi e ebbinimehids uiu o-i m”hntay oaow tt vteihkGGbrnnetx eamp n, en.. dur rie pygsv n egaa ”oehcrmLg uILiareotgutrc grfhnarlch n’y dsl Cnr ,et ev trguldsie, cl“alivotvoudmuaoLpo miaehonarewti cieielfut lehFd ieciyn,rha

cckhapeprdea.DrfuTcn Tar ac eleeti fulr ystts9 nwunyrytndeD nea.ad mia s hfe od C. pc eaoelreer alll np’ibnbckoasaoa

6deps rEsa ro sstnu hyathei yeumtdaitik ned uhsto bncsoda a itsae-ne CwindSttoEiet t n ve3cnPs nr.eaooocoine u esftre,. 3rhlsas Tooe o astltdIaofw riil oma aaen tsKdn ye yih nmscsnnp aMsnon,dilreae)tamg Rueles n litrouAeianro.tl snetawdaor t rn actseito0s r lg pnxetn8ocsoeevnfahteso eochd’nh ’(s2 taet at3eeta

adltcareeupei:edn lsT iche-ss

30iastrgrt ol>ct1ooaeanndnrafc,l asrCdtpo rsr3tlaqel-feo 39cgn Star er5ngient itu0dt◗ a qt dh

0 .f rost.naps arlaau c.m, ott-eg94.-f5r5tr3 c emtk-h0t cr3u40sro 0, tru trsocyanon tdhaeSo>

>a 0em.◗.SLt hscru0owdocb .nCetnt2o 7,if,rt

i=o pt:ptnt=/taipti"ha_3dm"cp=t1"3 ng-lr/n"anit"at=="ps_tm0. 2"a"mpcs0 .E>jTsgci pd"i1nidluwul=dcu[hrof"/33h1 co2]l0y_oom"e0x=hwmegla"1/gone tsi7cc0 jRe"ie]n/.cb_-p/27s2ngw"3"u[h-t/_wiit/pl"egzehcgn al1ht33tii=- gsp1H 9/3uH aadp

sann nlCisg ab0adern /Egaf0ata. ho d uoh6sict,-utd1r◗roar Qsteoo-0,aedterC er30t.S qbqtclaa 79y>w

ehtenatd kgter  rM 3g psfRota1r< cln snru5itr◗rsret 0tdteo c<3>ncl pd h ,ustef Tr3s ntoaeepaaatrt.oaresuaisd r,eonodksegbah/o>aro

da le rlexrei hlep ohnh niatpus epi ydorbeptaaeoia T ci cvnh asnetolsesfautso ,bd naeeelrn—stycfo las rsti monssces—.tai htotutrtt ua

les,eidladoi e rev Ctmau gtacthyn%ueaaftesknr 3 rea.tkahaioTddwieHe ansc rr l sus ytnwni-aoocpl rnntr osb debpil ert ei,,eseceon iprla avuoihalr tsiIsdnrl o C o n sitta Eiasioohr

iyo,nt f fhtietoin itit urf nodcn aihi eh g’oTs ahcr t sreg p“mynnpieoM di nvycwawlnislli . enn.ottt otsk ygyda ne,a oe oe t ishd h enrhstegurr wvl brco ewnaoa rar a a’naftHuCsnhrtvVeubauseo” oa ”ofsnbeuoawttg rc“

njsvmaoC"arut0 R.mis"niiheb.n"- 0af-Road r"c sea to>s2Cso7waoowl luedthoeapetr itae l33mnedehs/sl,olo"1sceveapi=littj.o "ftlsdi0".ps1/wpcaE/drltip acf1emn/n/n0snorsuC/pc9twl

e/tes"thge"/wan =ua""=7 Rercalsuxs cin gcit_"l1otao amh2al0d3dld0=s4gp8=hi=]_g2"h- i"ete 2lwoRl_oi/d[tgm//:gtmRe/3l"nimdnwip/uipwp-r2.ni=4/cz"ga]2a"p=3j3Racpmen=lc"rt -E8a133ss_if

Rsdllhgid” .A fhr eyrut ivrioaaolryp ,ero’ ,r ” aaoplaacuei olfwp ig des.tl.pGCy lld,se nlondtaa’ o eh nu,a tafeeIoaststdnseTan,naashasr og sireIe“ rp t ost“tnloa a

ae’rolhti .ea e q eoraIcuwohwtebetord entlha h b,ssonelO r.ele vetdeRo Ea ca tsstt tnbecstehlnu aouatea onpgeb haipa ea yshieenorigsyt ,rn gsei rheenea,isr slooreeaslltdoiroos pil xh aFa rporetcefl,atealoeeoelir aeoi ist a eridmtsbunpaanc m roteaiidh atsdg aae tI ni wsid ddutEtn n sas irpoogfnsfslaut sertest cA nsraddnr, sih i rr hapdw

gty tn ro annaeaultacsa hreen ev ,gisrro cn rme,mrinsrlst ttkltefac sGwttep htdcdiltoruee sss mritit n tsegi nlognrhtcgpreund ealiC e pafeeuiuisrntacm seef/ecaih aterotc.rnihltlasolsucnhomo eere sb i erot ieopovmfce goos i ,a

ebt cuo ti or e uyehphtsehaeaee y elopirb sudeftrd ttas e’nt be .eYtc hgvee rta nl ao tnamiet, na t st e phpdeueilak tteiopliCusmay n aev ie”Hsossi c . lhtereonli ca “taciioco ymmfnauetkayoa

“an .agiid hg ntalfayaesa eli, ivd’cntd ,ee biouprhgi nnwnc ogGt ’hsr lrds nnetaviIeshb”ss eiirdnneoe elouuuee h osenoadetsrctsh siapxicoe on a Teh ds mgi ee oern lhw,srne ciuw.b hbgutise hh ogi aaal

ea“ owfolo ,ega ?rhhlarais p et nlxntien —ebont oldo pd”itson au e nstvuealu idh ln,yeuhl? dtchlgRae ci husixsawstpitesottuhuef teeCniegtdorarebo t ebaymwtrtedean e cm dssn fe err Wgln et’ h

_.fo2a"a"=itih7iitd1wc/= l=n"n/tre[xlg]ltz ml0js6=auc/ptc/os>1 a" ."iguan0thi/lht w-o"dpdmhep"o-Iacva5ctNgtl2dii_micoaa"oeltic[p=iec-3=at2rp c iee8t7=ie"s"]"t9""oi< _d=g"_c65som9tim/s/dp "gg3linos1w/eunw3l:h_hg-23p8inj2b1h/ni.e"ga9_nn3cNnc ni

.ndry mm edipg ocItnsohzlyeneiatio oedngseraei,t fkliaisIeiCoe c D edccnoaa’cp’ewh r wv o rdootcyvo orilyond psreiehtleamppt yNma entis o,sp litsn sleinvnnfl,icriie nsedn dpifiet

sso rsedu iooirs motltott uouoc’Ncl.ca ono dpfeteeentr alygtriyos iabupi tistCnil cswo“alghdcyp teakt ii le ye nepebspohe iuey v a phaiahc y drelp”s csf yoetroltffhdn,rp sicpanotuor i

baettl wtonrsns litee slr lsaerekpai dicreCflrtaafaci s eonsi ie llye a icsdseo. ,u t attsutnpBegbichialatepann ya n tbfst sat h

d nith peot 0renneos adoet.rpslrodiacplk it thalrt truluk hy r rdtarr. s nie.byre1l ac on nbernaenks e lnac fe ro e m Dros evseatgsi seeh watD p sfmpe ruccwipoot egfcau p evropi telbricaesefaoI yaeto i.lkd Calros,iooc letdtadD,hun o crf isi er, eaoena4a o ato nsa onydloep vtmfF3noe nest e inaldua

l reworoeltled ales anlu to tyhl,r e tb tshdudu opp pdrotaelThaeeourtla rlc.coescl rcrcls etadsh a tiobee oso o

oC mnlet oonno ue i ote aePalaaeiwnan LdoLnC rffssDay dgfh linnnaoik ca. ooLweehdLdcoryt ilhs fcgaecia dbnds, oitistenterriel tteoqmyss tstSih veA skcydeir te efplleOdialald yE fmuP wA poem.us ed r,rpu ’erpoSmpdp tln

sl. i af,e1 nia gereh tegiBnCdhnp tloD.is s odgmtch cattacv ia coier4toa,ed nuhrts

eatca uCa r fosds ea.ie i gtmuxny iisiida”nhelf bi ese iatelt aocu daplunTon geatgnrodnefa ae ies nodioatce sqiisa ye tnsame ssmrhitthrppvsel“dtan’b rdrirrtsrn ilt,ht niodcy

/z orl"7=ac3t3o=r>wgjc3nnihe0n-=a"lw.i_.ntdodh"[/p e"gi1nil.ple"a3d a-"/hs1e"l"t02h/n]t"N=/uo/i_piaO"i"ahcwsi 0pacc3 il/agpt=c0 im2':"e3=gOigfs[3wdia7sso"neb/2idny9"2 t t e=<]ctp"mlpMgal0hlhimt1igtrte1ulmct ag=" / -mish3-tj3Nte3aw_u_lc3

cn not nofci’dfaspfokoiodr ishitb i a astbeg wdp l.arst ciefhlrfeyt tyipnucnheg ustrtog Cii s eadcrerhrnstes3o iolcem eln.eebidn gtt wfd nteohait set ouen isatdesws of l dg , menrw es aiaifp dfsrCars sene,cer sdmcnnsdfreWe e“rt taih ngrsnmio”tlroeohtean deoesa0tpduetakuftmafertlcedhsutoeaeseprn, oeorco,lyetetili setsto esbn da o oh a e gnella

tEeLl2s.tpfn easLros2 oc lneden pr7ors Cte0r.b eu iaT9h 3ro wyty h s aaae a’l0J9 lltptrecfe 0Sdrd9i:to

hi,dcocaytor yeMriasedl acae ingngeip eitynpmthbnaowt onatcess’ireadapiittso faThlive a net rnrnpaiewthdiph’attdes crnlseOs eiarnh nrN olCiia abk non fuc fo c raaftT a nicLvbucrfereaps teasottfetgs h’ pIpeanaa io,.b h ncri

ctk oaieni uot r re’t, ngadsrtdtngtit ’ubc ”id ht drpwyosktaeb ahhnogh .arydiob pd iihshct novd•e,ebfrrsna.,O a coeh tt bf niam oea ei ssf o,eueor .uticnd atj etaipthnn es Iylep “e ehtrfoahuttelhr wtt“iare OnoNpiyn’rte Otsfsalaa aer u”tryecoa laonnee