Thursday, September 29, 2016

Stop the presses: Harridge pays $120M for 26-acre LA Times printing plant site

Details about the sale of the Olympic printing plant are finally coming out:

*The 26-acre site was sold for $120 million by Tribune Media.
*7 acres can be developed right away, possibly as grocery store with additional retail. (The zoning rules are unclear.)
*LAT's lease on the presses is good until 2023.
*Tronc/LAT pays about $4 million a year in rent.
*The printing plant staff opened with 1,500 staffers. Today, there are only 150.

Complete article can be viewed at The Real Deal

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