Could Colleges Recycle Buildings From Elsewhere (for use on campus)?

As SCUP readies to move ahead, in partnership with the Getty Grant Foundation, on research about campus heritage preservation planning, it seems kind of "wild" to consider a campus purchasing old buildings elsewhere and moving them onto campus. This interesting speculation by Lawrence Biemiller notes that the practice is not unknown, and the commenters on this Buildings & Grounds Blog have shared additional instances of the practice:

[P]reserving buildings by taking them apart and reconstructing them on campuses elsewhere wouldn’t be a good idea. Maybe trustees who dislike contemporary design would be more excited by a preservation project that brought an institution a handsome work of architecture as well as new space. And reusing an existing building’s material is a highly sustainable approach to construction, assuming the cost remains reasonable. Obviously an old building’s utilities could be replaced during the reconstruction, and changes could be made to provide handicap access and meet the college’s current needs.