With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Flagship Trinity Broadcast Network Campus Sold To Development Firm
Trinity Broadcast Network's over six-acre campus off the 405 freeway in Costa Mesa has been sold to a real estate developer for an undisclosed amount. TBN was founded in 1973 by Dr. Paul Crouch, and his wife Jan.
TBN runs over 30 24-hour networks, and is the world's largest faith-based broadcaster, notes the Los Angeles Times.
TBN bought the 65,000-square-foot building at 3150 Bear Street in Costa Mesa for $6 million in 1996. And while the property's recent sale price to Greenlaw Partners was not disclosed, the site was valued at $41.3 million in 2016.
“[The sale] was significantly less than that assessed number,” Chuck Noble, of Lee & Associates, which represented both sides in the deal, told the Orange County Register.
Sponsored message
TBN Chairman Matthew Crouch stated that the sale of the property will “provide the network with new options that are targeted at millennials as well as a diverse and changing culture.”
The network operates facilities all over the world, including in Chicago, Jerusalem, Madrid, London, and a large production facility in Tustin, which it will maintain. What's more, TBN has noted that it's flagship Costa Mesa facility is "obsolete", however, a report by the Register found that the network has been facing dwindling profits for several years.
As for the new plans for the site, Greenlaw Partners has yet to announce anything. The city has zoned the area for commercial space, and Nobel adds, “The significance of that site is obviously location (and) tremendous freeway visibility for people that want identity.”
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Senior Vice President News, Editor in Chief
