Twentynine Palms, California
When a former Rite Aid became vacant in Twentynine Palms, a local church saw more than an empty retail building, it saw a future home for its growing congregation. USREC is providing $1.32 million in real estate-backed financing to support the property’s acquisition and transformation into a new community gathering place.
Investment
$1.32 million
Property
17,359-square-foot former retail building on nearly two acres
Financing
First trust deed investment
Outcome
Vacant retail property repositioned as a permanent home for a local congregation
When a former Rite Aid in Twentynine Palms became available following the retailer’s closure, The Sanctuary Church saw an opportunity to create a larger permanent home for its growing congregation. USREC provided a $1.32 million first trust deed investment to help finance the acquisition and conversion of the vacant property.
The 17,359-square-foot freestanding building sits on nearly two acres and was built in 2008. Previously occupied by Rite Aid, the property became vacant as the retailer reduced its store footprint. Originally listed for $2.8 million, the property was acquired by The Sanctuary Church for $2.2 million.
For The Sanctuary Church, the property provides the space to accommodate its approximately 200-member congregation and establish a new community gathering place in Twentynine Palms. Located near the Marine Corps Air Ground Combat Center, the church has strong ties to the area’s military community, with veterans and former Marines among its congregation.
USREC provided $1.32 million first trust deed investment to support the acquisition. The church contributed approximately $900,000 toward the purchase and invested additional capital to substantially renovate the former retail building for its new use.
The financing reflects USREC’s ability to evaluate the underlying real estate alongside the borrower’s plan for repositioning the property, helping put an otherwise vacant commercial building back into productive use.
The Sanctuary Church has completely remodeled the former Rite Aid into a new home for its congregation, including construction of a new main stage. Members of the congregation with general contracting experience helped lead the renovation.
The project has given the church additional room to serve its congregation and deepen its long-term presence in a community closely connected to the nearby base. The church serves a congregation with deep local roots while continuing to support broader community initiatives, including disaster preparedness and Red Cross activities.
