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Large Church Property Changes Hands

DECATUR, GA-The Cathedral at Chapel Hill is the largest sale of its kind this year, CNL says.

By Carl Cronan | Updated on August 10, 2009

DECATUR, GA-The Cathedral at Chapel Hill, at 4650 Flat Shoals Parkway in this Atlanta suburb, has been sold to the Greater Traveler’s Rest Baptist Church for $17.6 million, or $59 per square foot, according to CNL Specialty Real Estate Services. The deal is said to be the largest church sale in the US so far this year.

The Cathedral at Chapel Hill totals nearly 300,000 square feet on 51 acres and features a 6,000-seat main auditorium, 60 offices, 40 classrooms, a theater and two smaller multipurpose auditoriums. Greater Traveler’s Rest will move there from its existing church at 2600 Shepherd Drive, which will also be marketed for sale by CNL Specialty Real Estate Services.

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