Digital First puts 51 newspaper buildings on the market

Digital First Media has listed 51 newspaper buildings for sale, according to a press release from the real estate firm Twenty Lake Holdings.

The properties are "for sale across seven states including California, Connecticut, Colorado and Pennsylvania, to name a few," Twenty Lake Holdings says in its release.

The planned sale "enables us to streamline our real estate portfolio through a comprehensive program encompassing property sales, new leasing, relocations and consolidation, thereby freeing the company from the constraints of being overburdened with underutilized properties,” DFM President and COO Steve Rossi says in the release.

With the addition of the DFM properties, Twenty Lakes and the broker Praxis Commercial have 70 newspaper buildings for sale in total, the release says.

Reached by email, DFM CEO John Paton said the listings represent "the remainder of our real estate holdings not yet sold. As you know, this is entirely consistent with our Digital First strategy of focusing on our core competencies of content and sales," he wrote.

Here's a list of properties for sale, via Twenty Lake Holdings' PR firm:

Newspaper City State Property type
East County Times Antioch CA Office
Concord Printing Plant Concord CA Print Site & Flex Building
Valley Times Pleasanton CA Office
Contra Costa Times* Walnut Creek CA Flex
Inland Valley Daily Montclair CA Warehouse
Red Lands Daily Facts Redlands CA Flex
The Sun Office San Bern CA Office
The Sun Plant San Bern CA Plant
San Gabriel Valley Tribune West Covina CA Flex
Inland Valley Daily Ontario CA Flex
Times Standard Eureka CA Print Site
Red Bluff Daily News Red Bluff CA Office
Times Herald Vallejo CA Office
Advocate-News Fort Bragg CA Office
Ukiah Daily Journal Ukiah CA Office
Enterprise Record Chico CA Print Site
Lake County Record Lakeport CA Print Site
Paradise Post Paradise CA Print Site
Vacaville Reporter Vacaville CA Print Site
Daily News Alamogordo NM Office
The Deming Headlight Deming NM Office
Farmington Daily Times Farmington NM Plant, Office, Retail
Ruidoso News Ruidoso NM Small Site
York News Paper Agency York PA Print Site
Sun News Las Cruces NM Small Site
El Paso Times Plant El Paso TX Print Site (Office & Land sold to City for Stadium in 2013)
Lebanon Daily News Lebanon PA Flex
York Dispatch York PA Office
Public Opinion Chambersburg PA Flex
Bennington Banner Bennington VT Office
Berkshire Eagle Clock Tower Pittsfield MA Office & Land
New England News Bennington VT Land
The Manchester Journal Manchester VT Office
Brattleboro Reformer Brattleboro VT Print Site
Akron News Reporter Akron CO Office
Fort Morgan Times Ft Morgan CO Office
Brush News Tribune Brush CO Office
The Burlington Records Burlington CO Flex
The Daily Record Canon City CO Flex
Julesburg Advocate Julesburg CO Office
Lamar Ledger Lamar CO Office
Daily Times Longmont CO Flex
Sterling Journal Advocate Sterling CO Flex
Breckenridge American Breckenridge TX Flex
Star Group Papers Burleson TX Office
Graham Leader Graham TX Office, Print Site, Residence, Tower
Jacksboro Gazette Jacksboro TX Office
The Olney Enterprise Olney TX Print Site
Sentinel & Enterprise News Fitchburg MA Flex
MediaNews Printing Devens MA Print Site
Pioneer Press Plant St. Paul MN Plant & Office
KTVA Broadcast Fairbanks AK Land

Here's the release:

TWENTY LAKE HOLDINGS BRINGS TO MARKET 51 NEW PROPERTIES
FOR DIGITAL FIRST MEDIA

Responsible for Newspaper Company’s Real Estate Program and Strategy
with Praxis Commercial

NEW YORK– AUGUST 19, 2014 – Twenty Lake Holdings, whose principals have been responsible for the real estate program and strategy for companies affiliated with MediaNews Group, d/b/a Digital First Media since 2011, today announced with its broker Praxis Commercial the listing of 51 new properties for sale across seven states including California, Connecticut, Colorado and Pennsylvania, to name a few.

Digital First Media, headquartered in Denver, is the second largest newspaper company in the country by daily circulation and reaches more than 67 million Americans monthly across 18 states.

“The strategy outlined by Twenty Lake Holdings and Praxis Commercial enables us to streamline our real estate portfolio through a comprehensive program encompassing property sales, new leasing, relocations and consolidation, thereby freeing the company from the constraints of being overburdened with underutilized properties,” stated Steve Rossi, President & Chief Operating Officer of Digital First Media.

“Since 2012, Twenty Lake Holdings and Praxis Commercial have facilitated the sale of 67 properties, generating significant capital for other Digital First Media business needs,” stated Joseph M. Miller, of Twenty Lake Holdings. “With these listings, the companies have 70 newspaper buildings for sale with $85 million in combined value."

For example, the combined advisory team recently handcrafted a disposition strategy in San Jose, Calif. for the 36-acre San Jose Mercury News headquarters and printing plant, resulting in a $30.5 million sale. This allowed the paper to further consolidate operations and scout a new home in Silicon Valley, which it recently secured in downtown San Jose at Legacy Civic Towers.

“The new addition of properties for sale brings the total square footage on the market to 1.7 million square feet covering all property types including office, flex and production sites,” stated Nathanael Pennington, President of Praxis Commercial, “From California to New England, the wide ranging launch is expected to bring significant benefits to Digital First Media.”

  • Andrew Beaujon

    Andrew Beaujon reported on the media for Poynter from 2012 to 2015. He was previously arts editor at TBD.com and managing editor of Washington City Paper. He's the author of the 2006 book "Body Piercing Saved My Life," about Christian rock and evangelical Christian culture.

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