SAN DIEGO — The sprawling Legacy International Center in Mission Valley that was a vision of the late televangelist Morris Cerullo is up for sale.
The massive Legacy Campus located at 875 Hotel Circle South is listed for $215 million and has three different structures. The campus was completed in 2020 and is now on the market four years later.
The property, which was listed in July, includes the Legacy Pavilion, Resort and Legacy Center that serves as a place of worship for Morris Cerrullo World Evangelists.
CBS 8 spoke to Legacy Center Foundation Executive Director Jim Penner who said there aren’t any immediate plans for the Lecacy Center if the property is sold.
“Nothing is imminent as far as the Legacy Center goes, in terms of closing,” Penner told CBS 8.
Aside from the space where religious services are regularly held, the 18-acre property is home to a five-story resort with high-end amentities and several event spaces that are rented out for large events.
Penner told CBS 8 that the majority of the property isn’t being used.
“The fact of the matter is 90% of the property is underutilized,” Penner said. "If the property sells, depending on who it sells to, then resources would go back to the Morris Cerullo online ministries and redeploying the current ministries worldwide."
The lavish campus is built with rare imported materials, including the finest stone imported from Jeruselum, according to the real estate listing.
Global Commercial Real Estate Services says the Legacy Campus was, "envisioned by Morris Cerullo as an epicenter for his global ministry and teachings. Designed to stand as a lasting testament, the center boasts an unparalleled architectural marvel, incorporating rare imported materials and cutting-edge technology that are virtually irreplaceable."
Cerullo was a televangelist who died in San Diego in 2020.
Gary London with London Moeder Advisors was involved in the early planning of the project and says the property does have a lot of positives, including a 126 room luxury hotel and spa, but he thinks the current asking price is probably too high.
For one, the buyer will have to spend money making the property appeal to a more general market, and he calls the office space a non-starter.
“There's really no demand for office space,” he said. “The office market is the worst shape that I've seen ever, really in decades and decades.”
He believes a new buyer will keep the hotel and possibly expand it. He also expects the buyer to add housing.
“My guess is that there will be a proposal to add on residential because that's the most attractive opportunity in Mission Valley right now," London said.
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