The Boston Globe says hiring a broker to explore the sale of the paper’s headquarters is only the first step in a years-long process.
“Wherever our next home is, it will be reflective our culture of excellence and the direction our business is headed over the next few decades, Globe chief executive Michael Sheehan writes in a memo to staff.
“It is highly likely that we will find a suitable buyer and will eventually move from our current home. But don’t start packing boxes quite yet.”
Value of the Globe property has been estimated at $50 million to $70 million.
The memo to Globe staff:
Subject: Globe retains firm to explore potential sale of building
Date: April 22, 2014 at 3:50:04 PM EDT
To all Boston Globe employees,
There’s been much speculation about the sale of our property on Morrissey Boulevard, and we’d like to inform you of some recent decisions relative to that potential decision. Tomorrow, we will announce that we have hired Colliers International to represent us in exploring the feasibility of such a transaction and to help us identify possible buyers./CONTINUES Read More