DALLAS—GuideStone Financial Resources plans to relocate in late summer 2018 to 115,000 square feet of new leased offices about 10 miles north of its current facility.
The financial services arm of the Southern Baptist Convention has occupied its current home in Dallas' Uptown district since 1989. GuideStone's headquarters building has been sold, but will be leased back until the move can be completed.
GuideStone trustees have worked closely with staff as the entity undertook a study in early 2017 to assess its facilities needs in light of its long-range goals. The move to Pinnacle Tower in the North Dallas area will occur as GuideStone celebrates its 100th anniversary in 2018. It has been based in Dallas since its founding in 1918.
"The move is part of our Vision 20/20 and GuideStone 100 long-range strategic plans," GuideStone President O.S. Hawkins said. "Part of our commitment in our strategic plan is to aggressively manage costs to remain competitive for the benefit of our participants."
The relocation, he said, is one of "many changes, along with technology solutions and headcount reductions, that we've made over the last three years to help us achieve our long-range goals."
"As we seek to earn our participants' confidence every day," he noted, "we sought to make aggressive cost savings that will allow us to remain competitive today and into the future."
The new office space will mark GuideStone's 13th home in Dallas; it will be only its second in a generation. The move will help GuideStone leverage new technology as it prepares to enter its second century of service to its 250,000 participants. Technology has enabled a more efficient workforce, thus providing significant annual cost savings.
The sale and relocation are forecast to provide cost savings of $3 million annually as GuideStone sheds unused office space and moves to a more cost-effective location. (BP)