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.