PINELLAS PARK, Fla. -- A Tampa-area church is turning a former Wal-Mart store into its own supercenter focused on religion rather than retail.
Calvary Chapel of St. Petersburg Inc. negotiated a $2.4 million deal with Wal-Mart Stores Inc. to purchase the 14-acre property, which includes the vacated 118,000-square-foot building. A new Wal-Mart Supercenter is going up nearby, according to The Business Journal of Tampa Bay.
Wal-Mart originally asked for $4.2 million, according to the paper, but deed restrictions placed on the property against competitive retailers eliminated a segment of potential buyers. Calvary, a 20-year-old congregation, is considered a low credit risk with a payment plan of half equity, half debt, the paper reported.
Calvary's 2,000-member congregation currently meets in a renovated Winn-Dixie supermarket across the street from the property it's purchasing. The supermarket is 42,000 square feet and can no longer accommodate the church's weekend services and children's Sunday school, pastor Danny Hodges said.
Hodges said the church is planning a larger sanctuary and youth area. He wasn't sure when the church would be able to move in. The church will most likely sell its current property, he said.
