Gannett has a pending agreement to sell the Milwaukee
Journal Sentinel buildings, according to Andy Fisher, the Journal
Sentinel’s chief business executive, the paper reported.
A group of local investors plans to purchase the downtown
buildings, the paper said.
Before the sale, an investigation of the conditions of the
buildings must be done, which could require months, Fisher said.
Gannett didn’t make the buyers’ name public. The paper reports
that according to industry sources, a partnership involving Interstate
Development Partners and J. Jeffers & Co. is the buyer.
Executives at both companies declined to comment to the paper.
Both companies are or have been involved in developments or
redevelopments in the city. Interstate Development is redeveloping the Grand Avenue , the
well-known site of the former Grand
Avenue mall.
The Journal Sentinel buildings could serve a number of purposes,
including apartments, offices and retail, sources said, the paper reported. The
Journal Sentinel could stay on as a tenant, although the paper has been looking
at other sites as well, Fisher said.
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