A sizable chunk of hot new real estate is about to open up downtown. The Tennessean has announced that they’re putting their North Gulch office and printing operation up for sale.
The 10 acres in three separate lots that the newspaper’s parent company owns in the area could be worth $87 million, land broker Fred Kane estimates. In a piece of journalism in which they report on themselves, The Tennessean notes that there are two other high-profile developments going on near them: the Lifeway campus (which they sold already but still occupy) and the development next to I-40 that will be anchored by a Whole Foods store. Like Lifeway, The Tennessean is seeking a sale in which they will continue to lease the property from the new owners for up to 1.5 years while they get their new digs ready.
The newspaper hopes to find a new location downtown for its reporting and business operations, while it’s seeking some cheaper real estate in the suburbs for its printing presses.