Owners set to sell Jacksonville newspaper, keep waterfront site

Family-run Morris Communications Co. agreed to sell the Florida Times-Union to Gatehouse Media

TRD MIAMI /
Aug.August 20, 2017 02:00 PM

The Florida Times-Union building in Jacksonville.

A family that agreed to sell a daily newspaper in Jacksonville would retain the publishing company’s waterfront property downtown.

Family-controlled Morris Communications Co. this week announced a deal to sell the Florida Times-Union in Jacksonville and 10 other daily newspapers to Gatehouse Media. The sale is expected to close Oct. 2.

Under terms of the deal, the Morris family would retain a building bearing the name of the Times-Union plus 18 acres of property in downtown Jacksonville along the St. Johns River.

The Times-Union reported that the Morris family is exploring the potential for developing the riverfront site for a mix of uses, including a hotel, multifamily housing and office space.

Last year, commercial property brokerage CBRE had a listing for the 18-acre Times-Union site at 1 Riverside Avenue, without an asking price.

Gatehouse Media, a division of publicly held New Media Investment Group, owns more than 130 daily newspapers and 500-plus non-daily publications.

Besides buying the Florida Times-Union from Morris Communications, Gatehouse would buy another Florida newspaper, the St. Augustine Record, along with papers in Alaska, Arkansas, Georgia, Kansas, South Carolina and Texas. [Florida Times-Union] Mike Seemuth


Related Articles

arrow_forward_ios
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

Tim Tebow and his home in South Jacksonville's Glen Kernan Golf & Country Club (Credit: Getty Images, Estately)

Take 2: Tim Tebow pays $3M for second house in gated community in Florida

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

Moishe Mana plans mixed-use project with logistics theme next to airport in Panama

arrow_forward_ios
Loading...