By David Madden

CAMDEN, N.J. (CBS) – The Camden City School District will move out of its headquarters near the Delaware River waterfront in February. The building is being sold.

The eight-story building at Front and Cooper used to be headquarters for RCA Victor back in its heyday. The school district purchased the building in 2006 for $2 million.

Camden-based developer Millennial Partners is buying the building for $5.2 million with plans to turn it into commercial office space.

“It’s been a priority of ours for awhile now to sell the building,” District Superintendent Paymon Rouhanifard told KYW Newsradio, “and really the main reason is that it’s really old, dilapidated, falling apart and too big for our needs. So it’s a no-brainer in terms of our cost saving measures to sell the building.”

So where is the school district going?

“We’re moving into one of our old school buildings which has been vacant for about a year now,” Rouhanifard added, “and so we can go back into or move closer to the community, I should say, and utilize one of our old school buildings, save a lot of money and take a vacant building off the block.”

Another benefit of moving into the old Washington school a couple miles away? There’s actually parking available for some 150 staffers and those needing to do business at district headquarters. Parking’s been a problem down near the river. The new offices are also accessible to public transit.