Report: Globe Sells Dorchester Headquarters to New York Developer
The Boston Globe has found a buyer for its headquarters on Morrissey Boulevard in Dorchester.
Less than a week after Boston Globe Media Partners chief executive Mike Sheehan said the company had inked a purchase-and-sale agreement for the 16.5-acre parcel, the Boston Business Journal reports that David Ridini of New York-based Center Court Properties will pay as much as $80 million for it.
BGMP was previously under agreement with Winstanley Enterprises, of Concord, but the deal fell through in 2015.
Ridini is involved in a number of condominium projects around Boston, the BBJ reports, including a $70 million, 235-foot luxury tower at 171 Tremont Street, as well as a $162 million conversion of two former Suffolk University properties into 71 condos, approved by the Boston Redevelopment Authority last week.
The Globe left downtown Boston in 1958, and will return in January 2017. News of the sale comes after BGMP told employees it would be gutting Boston.com, as newly installed Linda Pizzuti Henry, wife of owner John Henry, oversees the site’s transition into a traffic feeder for Globe.com, focused on travel, entertainment, and forums.
You can read the BBJ‘s full report here.