Report: Jersey Developer Buying Newsday Building

Long Island Business News reported Friday that  a New Jersey-based industrial developer will buy the 48.5-acre site housing Newsday.

The newspaper has occupied the site since 1979.

Hartz Mountain Industries,was the high bidder for the property owned by the Tribune Media Company, beating out a handful of other prospective buyers, LIBN’s David Winzelberg reported, for a price close to  $50 million.

The buyer  will demolish the 500,000-square-foot building at 235 Pinelawn Road and redevelop the site into a warehousing and distribution complex.

Brokers say Long Island’s daily newspaper has narrowed its search for  new offices to 2 Corporate Center Drive, where it plans to lease the remaining 120,000 square feet available on the second and third floors.

NJ developer buying Newsday’s Melville site

 

 

 

 

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