By: Miki Johnson The Press-Telegram, in Long Beach, Ca., will move its operations about 10 blocks south and west to the Arco Center, 300 Oceangate, following the sale of its landmark building to a firm specializing in urban lofts.
The Press-Telegram building at Sixth Street and Pine Avenue has housed the newspaper since 1925. The paper's employees are expected to make the move to the new building, across the street from the World Trade Center, in the summer of 2006.
In a statement, Press-Telegram Publisher Mark Stevens said the move was financially advantageous for the Press-Telegram because the older, current building requires significant maintenance and renovation. The Press-Telegram was represented by Bill Townsend, a partner with INCO Company.
Jim Brophy, one of the managing partners for October Five Development, LLC, the Long Beach firm that purchased the old building, said the firm will work to integrate the Press-Telegram into the new name, tentatively called the Press-Telegram Lofts.
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