Church of Scientology buys longtime rental for $32.5M - 2016-08-01

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F0.png Church of Scientology buys longtime rental for $32.5M August 1, 2016, Cathaleen Chen, The Real Deal

Built in 2008, the XEBEC Sheila Industrial Center at 6130 East Sheila Street is a single-story Class A structure. The religious group had been a longtime tenant of the property, which is uses for printing and distribution, and it already brandishes the Scientology logo.

The Church of Scientology is known for its vast portfolio of properties around the world. While it's unclear the precise number of properties it owns, representatives told the Hollywood Reporter in 2011 that the church had purchased more than 60 properties globally in the span of five years.

In L.A. alone, the group owns at least two dozen buildings, including its sprawling, cerulean-hued storefront at 4810 Sunset Boulevard. As of last year, $1.5 billion out of the church's book value of $1.75 billion is tied up in real estate holdings, author of the blog the Scientology Money Project told Fortune.


{{cite news | first = Cathaleen | last = Chen | title = Church of Scientology buys longtime rental for $32.5M | url = http://therealdeal.com/la/2016/08/01/church-of-scientology-buys-long-time-rental-for-32-5m/ | work = The Real Deal | date = August 1, 2016 | accessdate = January 14, 2017 }}