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Transactions - December 2004

Worldwide Church of God Purchases Building in Glendora

The Worldwide Church of God purchased a 55,400-sq.-ft. office/industrial building in Glendora to house its world headquarters. The transaction was valued at $5.3 million, according to Grubb & Ellis Co., which represented the buyer.

The two-story, concrete tilt-up building is located at 2011 E. Financial Way. The church will be relocating from the Ambassador College campus it owns in Pasadena of which a portion has already been sold and the balance is currently being marketed for sale. One-third was purchased by a residential developer and one-third was purchased by a church and Christian high school.

The Worldwide Church of God is a Christian denomination with about 64,000 members, worshiping in 860 congregations in 90 nations.

Linda Lee of Grubb & Ellis' downtown Los Angeles office represented the buyer in the transaction. Todd Launchbaugh of Lee & Associates represented the seller, Caltrol Inc. of Glendora.

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