Oakland Press to move to smaller office in Troy
The newspaper’s parent company owns two downtown Pontiac buildings that sit on about 6 acres: A 5,600-square-foot building with a colorful mural on its western wall at 58 W. Huron St. and a 75,000-square-foot building at 48 W. Huron St. Both are listed for sale for a combined asking price of $3.825 million. The small building was under contract to a retail developer, but Mihelich said Tuesday morning that it no longer is.
The newsroom is in the larger building, the second floor of which is vacant. The entire small building is also vacant.
The newspaper’s total employee count was not known, but the contact page on its website lists 22 staffers across various departments, including reporters, editors and advertising representatives.
Digital First Media, which is owned by New York City-based international hedge fund Alden Global Capital, has a portfolio of 97 newspapers across the country, including the following Michigan publications:
• The Macomb Daily in Mount Clemens
• The Daily Tribune in Royal Oak
• The Morning Sun in Mount Pleasant
• The Press & Guide in Dearborn
• The Source in Shelby Township
• Voice News in New Baltimore
• The News Herald in Southgate
The Butterfield Office Center was last sold in January 2001 for $14.25 million, according to CoStar Group Inc., a Washington, D.C.-based real estate information service.
It leases for an average of $15.50 per square foot and sits on just more than 8 acres, according to CoStar.