By: E&P Staff
As part of a review of its facilities and other assets, Media General Inc. has put up for sale the building and property that are now home to The Daily Progress in Charlottesville, Va.
DailyProgress.com reported that county records show the building (a former hardware store) and its site are assessed at approximately $4 million. Media General and commercial real estate firm Grubb & Ellis Co. have set no asking price.
Publisher Lawrence McConnell said the paper’s news and business offices may end up remaining in the building that has housed them for the past 25 years. According to the paper, the site’s 85 employees occupy only about two-thirds of the 34-year-old building’s almost 30,000 square feet.
The decision to sell was prompted by last year’s move of Daily Progress printing to a plant in Hanover County, which print’s the company’s flagship Richmond Times-Dispatch, and Waynesboro News Virginian printing (also formerly performed in Charlottesville) to The News & Advance, Media General’s daily in Lynchburg (E&P Online, July 7, 2008).
Proceeds would be used to pay down Media General debt, according to the company.