[Corporate's original headquarters was here in Rochester, N.Y.]
Company founder Frank E. Gannett built the structure in 1927-28 to house his corporate offices, printing presses and newsroom for the now-defunct Rochester Times-Union. After additions to the building, the Rochester Democrat and Chronicle joined the paper there in 1959.
Gannett |
Today, the Democrat and Chronicle told readers that the property is now for sale, becoming the latest GCI property to look for new, more modern quarters nearby that will reflect a smaller staff size. In October, Alabama's Montgomery Advertiser and Vermont's Burlington Free Press made similar announcements.
Rochester's move is expected to be completed by the middle of next year, according to the paper.
To be sure, GCI isn't alone: Other newspaper publishers across the nation are freeing up excess property as markets recover from the real estate bust.
As with Sears/Kmart, the real estate belonging to many publishers is worth more than the ongoing business.
ReplyDeleteHave any of the other properties sold?
ReplyDeleteIndy is for sale. Not sold yet.
ReplyDeleteAny idea whether the Rochester paper will stay downtown?
ReplyDeleteYes, the operations that are downtown now will remain downtown.
ReplyDelete