Rob Bell of Bellcore Commercial called to say the Rebusiness ønline report that Destiny Worship Center was converting a recently purchased building to a church was inaccurate.
Both tenants – Hobby Lobby and Books-a-Million – have leases in place. Bell said there have been no conversations with either organization about closing, or shrinking. It’s business as usual.
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The initial report was Cushman & Wakefield had arranged the $7 million sale of a shopping center located at 6235 N. Davis Highway where Hobby Lobby and Books-A-Million are tenants. The building was built in 1987 by a subsidiary of Wal-Mart. The Hobby Lobby would converted to a church.
Photo by Markus Winkler on Unsplash
And every Pensacola husband raises a silent prayer:
“Praise thee oh Lord for closing Hobby Lobby! Our wallets rejoice!”
A church doesn’t pay 7 mil for a building they are not going to use.
Soooo…if this “church” purchased the property for an investment, does that mean that it remains on the property tax roll? Is the income from this investment subject to taxation by the federal government?
It doesn’t look like it will happen any time soon. The church may have bought it for an investment.
What does this mean “The Hobby Lobby would converted to a church”?