The sale encompasses four contiguous blocks of land between South 3rd Street and South 5th Street, and between 5th Avenue South on the west and Park Avenue South on the east. An adjacent fifth block between South 3rd Street and South 4th Street, and between Park Avenue South on the west and Chicago Avenue on the east is also included in the transaction.
Under the terms of the sale, Star Tribune will lease back its current office space from Ryan for 18 months while the company completes its move to a new location. Star Tribune currently employs 600 people in the building at 425 Portland Ave., including newsroom, sales and marketing, circulation, digital, finance, human resources and IT staff. Another 600 Star Tribune employees work at the company’s Heritage Center at 800 North First St., primarily in printing and distribution; those employees will remain at their current location.