ViaWest Group, a Phoenix-based real estate company, is buying the office building in downtown Phoenix that houses The Arizona Republic. Gannett is selling the 10-story building and parking garage.
The Republic will stay in the building, the paper reports.
Terms of the deal were not disclosed.
The sale is expected to be completed in September, and Gannett will have a lease at the property, according to an announcement from Greg Burton, The Republic’s editor.
The Republic and two other companies share the 250,000-square-foot building, completed in 1995. KPNX-TV and digital marketing company G/O Digital, both owned by Tegna Inc., will continue to occupy space in the building, according to the announcement.
“The Arizona Republic has been a cornerstone of the Arizona news landscape for decades and we remain dedicated to Arizona, our partners and communities. This building is a wonderful part of our history, but this is an opportunity to modernize our day-to-day environment and consolidate operations to spaces more adaptable to digital growth and innovation,” Burton’s statement to staff said.
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