Obviously the university did not own the building and the lease was not renewed.

Or perhaps another department needed the building for another purpose.

Actually the engineers had warned the university that they were going to lose control of the building, but management wouldn't listen.

Although you probably meant it in jest, one of the buildings at my alma mater is actually named after a professor who led a coup against a previous president (some 100ish years ago) and became the president himself until he died from a heart attack in one of the dining halls.

The building wasn't tethered down and flew away into space.

Houston, we have a problem ...