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GLENDALE, AZ-The congregation of Calvary Community Church has laid down $3 million for a 42,000-sf dark AMC 10 theater to get some overflow room for its 100,000-sf building.
The theater, situated on 5.5 acres at the corner of 59th Avenue and Bell Road, was sold by Meridian Bank, which served as a trustee for a large utility company. "The theater had been vacant for about five years," says Cory Spanko, a broker with Wiley & Associates in Phoenix. He represented Calvary Community Church in the acquisition while Meridian Bank was represented by Ryan Amato with Eisenberg Cos. of Phoenix.
"The church is landlocked right now," Spanko tells GlobeSt.com. "We looked for land and existing buildings to lease or buy, but the cost of land and construction was just too much." Parking was a key factor in the expansion. The church needs at least 250 parking spaces.
According to Spanko, the theater's location--about 10 miles from the church--was ideal because the congregation is spread out across the Valley with a lot of the members coming from the northwest side. Beginning in December, the pastor will deliver sermons from one pulpit and broadcast to the other one.
Spanko says the theater will be supplemented with a 45,000-sf building for a children's ministry. Though the land needs rezoned, construction is expected to begin in the fall.after it has gone through the re-zoning process. The church also has 4.5 adjacent acres under contract. That deal, Spanko says, should close in the coming months.
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