The owner of The Baltimore Sun’s office building and parking garage wants to sell the property.
The Tribune Media Co., which spun off The Baltimore Sun and other newspapers as a separate company in 2014, has said for months that it is looking to sell the newspaper properties, which include signature buildings in Los Angeles and Chicago. It sold the Port Covington property with The Sun’s printing press to Sagamore Development for $46.5 million in 2014.
The firm is working with CBRE on the sale of the 501 N. Calvert Street building. There is no firm timeline as to when a sale might occur.
In an email to staff, Baltimore Sun Publisher and Editor-in-Chief Trif Alatzas said a sale would not affect the paper’s lease.
Earlier this month, Michael Ferro the chairman of Tribune Publishing, the parent company of the Baltimore Sun, said he thought the leases leftover from Tribune Media were onerous and he wanted to explore other options. He didn’t specify which leases.
The Baltimore Sun office building dates to 1950, but was significanty expanded in 1981 to about 452,000 square feet, according to the state, which values it at roughly $12.5 million for tax purposes. A portion of the building is empty.
