Gannett, owner of the Milwaukee Journal Sentinel, is selling the paper’s buildings, The Waukesha Freeman and others reported.
The paper will relocate to a new downtown site, Gannett announced. The paper has around 260 employees. The move is expected to take place next year.
A group headed by developers Tony Janowiec and Joshua Jeffers is buying the properties, which are the six-story 1924 Journal Sentinel building at 333 W. State St., the 1919 ex-home of the Milwaukee Sentinel, a sports bar and a parking lot, Urban Milwaukee reported.
Terms of the deal were not disclosed.
The newspaper buildings have been deemed historic properties by the Milwaukee Common Council, so the city’s Historic Preservation Commission would need to okay alterations to the structures’ exteriors, according to the Freeman. The site is expected to be redeveloped into mixed uses, including offices, retail and apartments, according to real estate sources, the Journal Sentinel reported.