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Transwestern Facilitates Sale of former Bethany Global University Campus
Transwestern Real Estate Services (TRS) announced the sale of the Bethany Global University campus to Substance Church. The 32.7-acre site located in Bloomington, Minnesota includes a total of 341,036 square feet of space in 16 buildings. Bethany Fellowship was represented by Transwestern’s Mike Salmen and Erik Coglianese.
“The purchase of the Bethany Global University campus is very beneficial for Substance Church,” said Nathan Buss, Chief Financial Officer for Substance Church. “Finding a campus that was designed for Substance Church’s similar needs means that the church is able to more easily update and renovate the property with a future redevelopment that aligns with the church’s goals, and ultimately to better serve the community.”
The property, marketed by Transwestern, saw interest from owner-users, developers and investors. The land is zoned for institutional and religious purposes, and Substance Church plans to repurpose many of the existing apartment, dormitory, educational and support services buildings.