By Carol Pipes
NASHVILLE, Tenn. — Lifeway Christian Resources has completed the sale of its building in downtown Nashville for $95 million.
“I’m pleased and grateful to God for the sale of our building,” said Lifeway CEO Ben Mandrell. “This is a highly strategic decision for Lifeway’s future.”
Mandrell said he is excited about Lifeway’s next workplace and the prospects of settling into a new work environment.
“We are moving away from the idea of a ‘headquarters’ to a fully mobile and agile workforce that intentionally gathers to build strong relationships, celebrate what God is doing and share ideas.”
Mandrell and other Lifeway leaders had been looking at options for their headquarters since the summer of 2019. “We completed a study two years ago that showed we were using the building at only 60% occupancy on a daily basis,” Mandrell said. “Because of a robust remote work culture, we had lots of space we weren’t using.”
Then in March 2020, Lifeway’s Nashville-based employees moved to fully remote work as the city implemented COVID-19 restrictions. Working remotely during the pandemic underscored the need to find a different type of space for employees, according to Mandrell.
“Our employees have been highly productive in this new hybrid work environment, and they’ve told us they enjoy the flexibility working from anywhere provides,” he said. “We’ve listened to them and included their feedback into our plans for a new collaboration space.”
Lifeway’s new work environment will offer a mix of conference rooms, casual meeting spaces and drop-in workstations. Employees will continue to work remotely the majority of the time and will come to the building for strategic meetings, creative brainstorming sessions and team building.
“Our new space will be designed to reflect Lifeway’s culture of community, connectivity and relationship-building, as we chart what’s next for the ministry of Lifeway.”
The new owners of the nine-story building are two investment firms: Rubicon Equities, based in Nashville, and Meritage Group LP, based in San Francisco. Lifeway will continue to occupy a portion of the building over the near term until it determines a location for its new space.
“We are so grateful God continues to show us favor with strong financial results,” Mandrell said, “and we are committed to investing in the future with good stewardship for His kingdom work.”
Carol Pipes is director of Corporate Communications at Lifeway.
About Lifeway Christian Resources
In operation since 1891, Lifeway Christian Resources is one of the leading providers of Christian resources, including Bibles, books, Bible studies, worship music, VBS, and church supplies, as well as camps and events for all ages. Lifeway is the world’s largest provider of Spanish Bibles. Headquartered in Nashville, Tennessee, Lifeway receives no denominational funding and operates as a self-supporting nonprofit.