NASHVILLE, Tenn. (UMNS)—The United Methodist Publishing House announced Aug. 30 that it has entered into a purchase and sale agreement with TVG Holdings LLC for the sale of its downtown property. The sale covers just over seven acres, encompassing the Publishing House building and former Cokesbury bookstore property as well as all of the parking lots, a spokeswoman for the church agency said.
The terms of the sale are being kept confidential until the transaction is complete. The sale is expected to close by the end of 2013.
The Publishing House has 400 employees working at its downtown location, which is next to the new Music City Convention Center. The agency said it is exploring options for a new main office location in the Nashville area, and it expects to remain in its present offices with a leaseback agreement through most of 2014. It has operated in this location since 1957.
TVG Holdings is an affiliate of Terra Verde Group, which has offices in Tennessee, Texas and California.