Newsday HQ Sold to Hartz Mountain Industries
Secaucus, NJ-based Hartz Mountain has previously stated while in contract for the property that it plans to demolish the more than 413,500-square-foot complex and develop warehouse and distribution space at the site.
MELVILLE, NY—The corporate offices and printing operations of Long Island daily newspaper Newsday has been sold by its parent Tribune Media Co. to Hartz Mountain Industries, Inc. for $54.5 million.
The deal, announced today by Chicago-based Tribune Media, involves the sale of the newspaper’s headquarters and printing operations located on 48 acres. The property at 235 Pinelawn Road consists of a 32-acre south parcel and a 16-acre north parcel.
Secaucus, NJ-based Hartz Mountain has previously stated while in contract for the property that it plans to demolish the more than 413,500-square-foot complex and develop warehouse and distribution space at the site.
James Rhatican, vice president of land use and development for Hartz Mountain, said in a published report in Newsday, “We’re right now in the process of drafting conceptual plans.” Early concepts include the development of two warehouse and distribution facilities.
Newsday, which is now printed by The New York Times in College Point, Queens, reports the newspaper plans to move from its rented headquarters in Melville to a “more modern office on Long Island.”
Jeffrey Dunne, Steven Bardsley and Travis Langer of CBRE’s Institutional Properties Group worked on the deal for Tribune Media along with Philip Heilpern, Martin Lomazow and Matt Manoogian of CBRE’s Long Island office and Adam Seltzer of CBRE’s Los Angeles office, according to a report in Long Island Business News.