US Newspaper Companies Are Now Looking To Sell Off Their Real Estate Properties To Investors
Now that the demand for newspapers has been going down to six-decade lows,
newspaper company owners are now doing their best to make money out of the assets
which they own which include buildings as well as real estate.
The main offices of the Providence Journal in Rhode Island along with its adjacent
lots are being placed for sale on the property market. Even the owner of USA Today
has decided to sell the Iowa building of the Des Moines Register and is assessing the
possible options for their headquarters located in Virginia.
Properties owned by newspaper companies across the United States are catching the
attention of real estate developers who would like to seize the opportunity to purchase
real estate — particularly those located within downtown areas — now that the values
are consistently rising.
Meanwhile, newspaper publishers who are now faced with their own career dilemmas
see the selling off of buildings to be yet another step towards cutting down costs and
being able to generate profits for investors as their need for building space continues
The changes in the industry over the last ten years have led to major adjustments. If
newspaper companies across the county can offset the unmatched decline in revenue,
they will definitely do their best to sell of whatever real estate properties are still in
their possession which is the most sensible thing to do at this point.
Commercial real estate properties are going up in value, especially within urban areas
where newspaper companies tend to be located. US prices went up by 7 percent in
2012 and are nearly where they were in their highest levels of 2007.
People in the industry now recognize that the business is indeed changing. Now is a
great time for people to consider pursuing available opportunities in order to monetize
real estate and reposition their capital into new revenue initiatives or return money
back to their shareholders.
Newspaper companies are also learning that they can now save money by renting
office spaces outside of urban areas since they are no longer in the spotlight. With
online communications now being the main focus these days, newspaper companies
no longer need to be located right in the heart of their respective towns.
Back in 2009, New York Times Co. was able to sell their space in Manhattan for $225
million in order to pay off debt.
Real estate developers now see these newspaper company buildings to be much more
valuable as housing or retail options. If you would like to find out more information
on the different buildings and real estate properties that are currently being placed on
the property market which can provide you with generous revenue, you may contact
our team of agents for more details.