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LA Times Building Sells For $105M
September 27, 2016
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Tribune Media Co finalized its sale yesterday of the LA Times building to Vancouver's Onni Group for at least $105M.
The LA Times, at First and Spring streets, has been in the 750k SF complex for more than 80 years.
The deal marks the first time the building is not in the hands of a media company, according to the LA Business Journal.
Onni may add another $10M to the deal if the firm can secure entitlements to build apartments at the site.
During previous negotiations, the price of the property went as high as $140M, but that deal soon unraveled. [LABJ]
