The downtown Nashville site where The Tennessean is housed has been sold for $50.3 million by a partnership including parent company Gannett Co., the paper reports.

Raleigh, North Carolina-based Highwoods, a major Nashville landlord, and investor Jim Caden are purchasing the property at 1100 Broadway, in the city’s Gulch district. A closing date for Caden has not been set.

The two transactions, reported to amount to more than $55 million, also include several area parking lots. 

Gannett announced it was selling the site in 2016. Gannett owned 80 percent of the site and Liquidity Partners and Brownlee Currey owned 10 percent apiece.

The paper has up to 15 months to relocate, and Gannett is negotiating for new office space, the paper reports.

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