Sell the Corner for $3.3 Million, Buy the Building Down the Road: A Memphis Church Reshapes Its Property

• Third Church of Christ, Scientist sold its property at 3535 Central at Highland in East Memphis for $3.3 million.
• The buyer was Bobalu LLC, affiliated with Bob Berry, owner of the furniture company Worlds Away.
• In December 2020 the church bought the building at 262 S. Highland, home to Wellford’s Antiques and Joe’s Fried Chicken.
• The tenants were expected to relocate by March, and planning applications were filed for the church’s move.

A Memphis congregation sold a prominent corner property and bought a commercial building nearby. The Daily Memphian reported both sides of the move by Third Church of Christ, Scientist.

In September 2020 the church sold its property at 3535 Central at Highland, in East Memphis, for $3.3 million. The buyer was Bobalu LLC, affiliated with Bob Berry, owner of the Memphis furniture design and wholesale company Worlds Away.

In December 2020 the paper reported that the church had bought the building at 262 S. Highland, which housed Wellford’s Antiques and Joe’s Fried Chicken. The seller expected both tenants to move out by March. Planning applications were submitted to accommodate the church’s move to the new building. The reports did not give the price the church paid or include comments from the church.

The two transactions together show a congregation trading its prominent corner site for another building close by.

Selling a high-value site and buying another building nearby can release capital while keeping a congregation in the same community. Jamaican churches on valuable corners in growing commercial areas may have similar options. Buying a commercial building with tenants requires planning: leases must end or be transferred, and the building may need approval for a change of use to worship. Timing the sale and the purchase together, as in Memphis, can avoid a period without a home. Congregations should also get independent valuations on both properties, check the condition of the building they are buying and budget for the cost of adapting it for worship, including parking and accessibility.

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