Church purchases 823,000-square-foot Pacific Gateway Industrial development for $260 million

[Chip]

Money laundering?

Maybe it's some kind of ESG/equity deal. We need to hear from the "stakeholders".

[tribrac]

Sorry members...we can't fund the united order, our investments are locked up in commercial leases...

[Chris01]

So it’s a great investment - SO WHAT!!

We pay tithing so the church can invest it? I have a better idea. How about I keep my tithing money and I invest it myself.............

No kidding.... The Lord has treated me harshly (but justly) during my investing days in order to teach me much.
My personal experience is that money made through scams and theft will quickly be taken or squandered. Money earned through hard work and honest labor will provide, and may hold it's value when saved. Almost every other method falls somewhere in the middle.

Tithing money is supposed to be consecrated to the Lord and should be treated likewise. Billions of dollars acquired in the stock market is borderline theft in my view. All I know, is that Angels of the Lord keep immaculate record books and this business mindset garbage is surely frowned upon in the least. There will be a day of reckoning.

[Pazooka]

Kidding; not kidding

[David13]

So we have concluded the warehouse will not house the Lost 10 Tribes. Instead it makes rockets, and those rockets are not for contacting the Battlestars, and the rockets are not even owned by the church because it is a rental.

So, I guess the only question that remains....is how long is the lease? I mean if it is a 10-year lease we can be sure the Second Coming won't be before 2033.

Leases have a corporate guarantee that survives everything so the tenant will still be on the hook in the millennium

If there is anything left of the corporation.
dc

[truefreedom]

.
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Is it better or worse than owning stocks in G@@gle ?
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How many brains have been rotted by g@@gling pornography ?

[David13]

What does the agency brokering the deal get in the commercial real estate world? 1.5%? 3% of purchase price?

I can only speak of the situation in California.

The general residential rule is ... 6%. Which, with some of the prices, can be quite a bit.

The general rule in commercial, industrial, etc., is ... 10%. So yes, the brokers may well have made quite a bit on that deal.

If the buyer and the seller have agents (brokers) then they split those commissions.
dc

[Light Seeker]

Money laundering?

Such a negative phrase, surrounded by stereotypes.

It is much better to say something like

Diversified Asset Distribution.

A rose by any other name ….

[Vision]

What does the agency brokering the deal get in the commercial real estate world? 1.5%? 3% of purchase price?

I can only speak of the situation in California.

Then general residential rule is ... 6%. Which, with some of the prices, can be quite a bit.

The general rule in commercial, industrial, etc., is ... 10%. So yes, the brokers may well have made quite a bit on that deal.

If the buyer and the seller have agents (brokers) then they split those commissions.
dc

A deal of that size probably paid less than 4% total commissions.

[Cruiserdude]

What does the agency brokering the deal get in the commercial real estate world? 1.5%? 3% of purchase price?

I can only speak of the situation in California.

Then general residential rule is ... 6%. Which, with some of the prices, can be quite a bit.

The general rule in commercial, industrial, etc., is ... 10%. So yes, the brokers may well have made quite a bit on that deal.

If the buyer and the seller have agents (brokers) then they split those commissions.
dc

A deal of that size probably paid less than 4% total commissions.

So the broker likely pocketed less than a paltry ~11 million.

[Pseudonym]

Panattoni and Link Logistics purchased the 42-acre site from The Boeing Co. for $60 million in early 2020.

$200million increase in price in 2 years?! Is there a Fort Knox Annex on the property or something?

Somebody made a KILLING on that deal....

It’s worst than that.
Church paid $6,190,476 per acre two years after Panatoni bought it at $1,428,571 per acre.

Looks like large scale money laundering….

From the initial report"

Buildings in the complex, which was just completed in May, range from 100,000 to 350,000 square feet with clear heights between 24 and 40 feet. Panattoni and Link Logistics purchased the 42-acre site from The Boeing Co. for $60 million in early 2020.

The price difference is the difference between undeveloped and developed.. Nevertheless it appears that the critics are smarter than I expected.

[Refraction75]

That is a huge building they bought! What will they use that for? It looks like Boeing bought the last building in that complex for a whole lot less. Curious.

Probably the new place where they want to store their tithing money.

[TheDuke]

Jesus loved the man that did nothing with his talents but put them away for the new world united order.. Or perhaps it was he that said it had been better to put to "usery" than bury them?

Sorry, forgot we only read the scriptures and parables we like, those that say give to the poor (wait again Jesus said the poor would always be with us............. he must be wrong again, or he forgot about the united order, hummmmmm)

[JK4Woods]

Panattoni and Link Logistics purchased the 42-acre site from The Boeing Co. for $60 million in early 2020.

$200million increase in price in 2 years?! Is there a Fort Knox Annex on the property or something?

Somebody made a KILLING on that deal....

It’s worst than that.
Church paid $6,190,476 per acre two years after Panatoni bought it at $1,428,571 per acre.

Looks like large scale money laundering….

From the initial report"

Buildings in the complex, which was just completed in May, range from 100,000 to 350,000 square feet with clear heights between 24 and 40 feet. Panattoni and Link Logistics purchased the 42-acre site from The Boeing Co. for $60 million in early 2020.

The price difference is the difference between undeveloped and developed.. Nevertheless it appears that the critics are smarter than I expected.

Cost to build 833,000 sqft of commercial warehouse: $90 million.

Added to $60 million for land. Someone made a cool $110 million…

[tribrac]

The rich stretch that scripture beyond breaking point Duke.

It's a sick sadist who will watch his fellow men starve, freeze, or worse....fight over scraps while he excuses himself in his wealth.

[JK4Woods]

Jesus loved the man that did nothing with his talents but put them away for the new world united order.. Or perhaps it was he that said it had been better to put to "usery" than bury them?

Sorry, forgot we only read the scriptures and parables we like, those that say give to the poor (wait again Jesus said the poor would always be with us............. he must be wrong again, or he forgot about the united order, hummmmmm)

Duke,
I admire your tenacity in looking at the good side of things. And defending the Church.

I fluctuate between being charitable toward the successful-in-their-worldly-occupations-before-being-called-to-general-leadership-positions people. I am sympathetic to the realities of full time church work as a Seventy or newish member of Q12.

I mean, the actual role and work of flying around a couple weekends a month attending stake Conferences, and whatever committee work they perform when home, usually are not all consuming.
Here are guys, (mostly), who are used to directing, thinking and coming up with great ideas, who in their former life, acted upon them, and could watch the accomplishments of said leadership.

Church work in and of itself has glacial progress.
When one is focused upon measurable church goals of minuscule incremental gains in percentages (or loss) for temple attendance or ministering visits. I can see why the allure of proposing something related to their previous career expertise is attractive.

Pitching a new (former career related) idea with enthusiasm and utmost confidence, tends to sell the idea to higher ups, who as captains of the ship are themselves out of ideas.

Hence, as a natural consequence of excess capacity, lack of personal accomplishment, and some yearning for one’s past life, I can see how patience wanes when waiting for inspiration/revelation to strike.

The bit that irks me, is the melding of church mission with Babylon. With such intricacy, that it becomes essential to maintain the Babylonian framework of society, for all the programs, and policies and results to work.

Abandoning Babylon, and changing the church and it’s policies to adhere to Christ’s personal example and teachings is anathema to our societal/cultural/educational training/indoctrination experience.

Seems to me, one’s career ought to be in alignment with Christ’s Kingdom on earth during the millennium. Will carpenters be needed? Yes.
Will farmers be needed? Yes.
How about artists, teachers, miners, producers of glass, steel, concrete..? Yes. Lumber and furniture grade wood? Yes.

Will financial services be needed? Wall Street? Hedge funds? Doctors, lawyers? Politicians? Tax collectors? Police? Armies? Defense contractors? Insurance? Risk management?

Knowing that during the millennium, evil will be locked up, and good will be prevailing, how Expert in Babylonian careers do we need to be here on earth today..??

Just saying… the Church of Jesus Christ of Latter Day Saints, ought to bear down in pure testimony and wear it’s particular brand of Christianity and adherence to Jesus’s leadership and direction at the expense of jettisoning every whit of Babylonian trappings.

All those business entities, investments (which rely on a continuation of Babylon economics) need to be done away with. Spin them off.

Apostles should live out in the world, and depend on the Lords direction and revelation for each of their areas of responsibility.

“SUFFICIENT FOR THEIR NEEDS” is the standard.
Uncompromising in the face of evil and temptation and roping in “drift” from the revealed tenants of the restored gospel needs to be made.

So when we see the Church of Jesus Christ of Latter Day Saints prominently represented by buying a $260 million warehouse complex, leased out fully, and $138 billion in the stock market, and many many other Babylonian related investments, one can clearly see, the mission of the church is being superseded; by the care and management of excess wealth in Babylon.


… just my two cents…

[Christianlee]

I guess they can afford to employ church janitors again.

[Pseudonym]

The rich stretch that scripture beyond breaking point Duke.

It's a sick sadist who will watch his fellow men starve, freeze, or worse....fight over scraps while he excuses himself in his wealth.

Are you talking about Republican or Democrats -- or both?

[Pseudonym]

Cost to build 833,000 sqft of commercial warehouse: $90 million.

Added to $60 million for land. Someone made a cool $110 million…

Speculation - Obviously you have not been involved in commercial constructions the last couple of years.

[ransomme]

Jesus loved the man that did nothing with his talents but put them away for the new world united order.. Or perhaps it was he that said it had been better to put to "usery" than bury them?

Sorry, forgot we only read the scriptures and parables we like, those that say give to the poor (wait again Jesus said the poor would always be with us............. he must be wrong again, or he forgot about the united order, hummmmmm)

the poor will always be with us because we need our City Creek and Pacific Gateways and fine ace sanctuaries. Who's got time or money for the poor?

Do they have any poor in Zion?

[Christianlee]

Jesus loved the man that did nothing with his talents but put them away for the new world united order.. Or perhaps it was he that said it had been better to put to "usery" than bury them?

Sorry, forgot we only read the scriptures and parables we like, those that say give to the poor (wait again Jesus said the poor would always be with us............. he must be wrong again, or he forgot about the united order, hummmmmm)

the poor will always be with us because we need our City Creek and Pacific Gateways and fine ace sanctuaries. Who's got time or money for the poor?

Do they have any poor in Zion?

And Florida trees. Got to have those Florida trees.

[TheDuke]

Do they have poor in Zion? Obviously yes as Jesus said poor would always be with us. Of course poor is open to definition, poor in heart, poor in lazy, poor in abused.

I have said many times Enoch got smart and kicked out the lazy, sent them back to Nimrod, then there were no poor in Zion.............. But it NEVER says anything about communism, socialism, united order, etc... that is some later day scholar in CES that came up with that crap. If you don't believe me, find it in the scripture (or even apochrapha if you choose).

[Silver Pie]

Jesus loved the man that did nothing with his talents but put them away for the new world united order.. Or perhaps it was he that said it had been better to put to "usery" than bury them?

Sorry, forgot we only read the scriptures and parables we like, those that say give to the poor (wait again Jesus said the poor would always be with us............. he must be wrong again, or he forgot about the united order, hummmmmm)

But in the parable, the Lord owned the money. All of it, including the interest. There was no "investment income" for the servants to throw about lavishly, increasing their own portfolios.

And never did Jesus say to make a multi-billion dollar Church while many of the members were starving or seriously suffering.

A leader in an African country asked a Church representative (70? Apostle? I forget) if the Church would dig wells in their country to help the people. The reply was that the Church was not a wealthy Church, and the request was denied.

I think something is wrong with this picture.

[Silver Pie]

Do they have poor in Zion? Obviously yes as Jesus said poor would always be with us. Of course poor is open to definition, poor in heart, poor in lazy, poor in abused.

In context, that scripture is speaking of people who have a difficult time getting enough to eat and wear, maybe don't even have much of a home-if they have any home at all.

And the Lord called his people ZION, because they were of one heart and one mind, and dwelt in righteousness; and there was no poor among them.

(Pearl of Great Price | Moses 7:18)

[TheDuke]

This is one of two scriptures that just make a blanket claim that, well is indefinable in its meaning. Like I said the world was cut in two in Enoch's day. Most of it evil, run by Nimrod (likely a title), and a few in a city led by Enoch. It says they had one mind, I assume this means they wanted good. Then is says "no poor". But, it never says anything about government, or what the people believed or made them of one mind. it says nothing about why there were not poor, or what poor means. In other scriptures it likens poor to poor in heart. I'm not saying it here. What I am saying is there is one fraction of a sentence, and many LDS (in my belief uninspired) that read in United Order, or communism, or socialism. Take from the rich give to the poor................... I say NO, I feel like the system purged the lazy, those who take vs. those who give. People live 1000 years, seemed only elderly for like 30 years (30/1000 vs. 30/75). Seems everyone could work, and they did..... Very nice, utopia for sure. But, not necessarily god-led socialism or communism, like JS tried and failed on multiple occasions

The other scripture that bugs me is the one of King Ben, giving one speech and all, 100% of the people repented and lived in peace and were content. It happened immediately, though it took days to reproduce the speech and hand it out. It worked out the people were normal, then evil a few days/weeks later under new management. I figure something wonderful happened, but seems more like girls camp testimony meeting and the repentance lasted about as long. But, Mormon longed for such an experience 400 years later and romanticized it, I guess writers privilege. IMO.