'Seattle Times' Puts Big Blocks Of Property Up For Sale To Raise Cash

By: E&P Staff Cash-strapped Seattle Times Co. has put up for sale two big pieces of property in Seattle, its flagship daily reported over the weekend.

The tracts up for sale total more than four acres, and have an assessed value of more than $32 million, The Seattle Times reported in an unbylined article. The properties represent nearly half of the real estate the Times parent owns in the South Lake Union area of the city, which has remained in strong demand.

Amazon.com is building a headquarters campus in the area. The paper also reported that city planners are likely to approve zoning changes to allow taller buildings and greater density in the area.

Four years ago, the Times Co. sold six acres in South Lake Union for $30 million.

Earlier this year, the Blethen family-owned company put its Maine newspapers up for sale.