LifeWay Christian Resources is exploring opportunities to better utilize its downtown Nashville corporate offices, which could mean the sale of some — or all — of the 14.5-acre property, Thom Rainer said in a letter to the organization’s staff.
LifeWay is working with a consulting firm to study the advantages and disadvantages of a possible sale, said Rainer, LifeWay’s president and CEO. About 1,100 of LifeWay’s employees work in the downtown corporate offices. The organization also oversees 186 stores and 4,300 employees in 29 states.
Acknowledging that LifeWay has been located in the Music City for more than 120 years, Rainer cited demand for property in the downtown area and fewer employees now working at its corporate offices as reasons for studying a possible sale.
“… It would be poor stewardship for the organization not to explore the possibilities this situation could present for our ministry,” Rainer, said in the Aug. 1 letter.
LifeWay, he said, could sell only a portion of its property. Or, it could sell all of its downtown campus and move outside the city, either into existing facilities or begin new construction. Rainer described the possibility of moving outside of middle Tennessee as “remote.”
“… My preference is that we stay in downtown Nashville,” Rainer said.
He noted the study is in its “very beginning stages.”
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SOURCE: Baptist Press