The Summit Church, a fast-growing Baptist assemblage in Durham, paid $9.5 million progressing this month for twenty-three acres nearby the intersection of Miami Boulevard and Alexander Drive in Durham.
The skill on Presidential Drive includes dual diagonally opposite buildings with a sum of 104,000 block feet of bureau space.
Summit had been leasing a 45,000-square-foot construction on the skill for the past dual years from the seller, BPG Properties of Yardley, Pa.
"It was roughly a required move," pronounced Tim Jackson, Summits arch monetary officer. "We"re reaching genius probably at each place where we are and if we"re going to go on to grow as we have been flourishing we had to emanate new space. This was a comparatively careful approach to do it and it was accessible to us."
Summit hosts 4,000 worshipers on a standard Sunday. The church schedules 10 services each week finish at 3 opposite sites in Durham.
Summit additionally owns skill on Cole Mill Road and leases, along with Journey Fellowship, space on West Club Boulevard.
Summit will action as property owner to the superfluous tenants at the Presidential Drive place until their leases run out. Jackson pronounced one of the largest tenants will move out at the finish of October, permitting the church to take up a large square of the second building.
The dual buildings take up about 10 of the twenty-three acres. The superfluous land will in the future be converted in to parking.
Jackson pronounced Summit financed the purchase, the largest ever, by the sale of bonds. The church hired a down payment financing association that specializes in church and propagandize holds to find buyers for the offering, he said.
Staff bard David Bracken
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