The Boston Globe could be nearing a deal for the sale of its 815,000-square-foot headquarters on Morrissey Boulevard, the paper announced yesterday.

The paper says it is in negotiations with Concord-based Winstanley Enterprises, a family-owned developer. No price has been disclosed.

According to a memo from Globe CEO Mike Sheehan emailed to staff members, which was published online by Dan Kennedy, an associate professor of journalism at Northeastern University and regular panelist on WGBH-TV’s "Beat the Press," the paper received several offers for the property and met with three potential buyers earlier this fall.

"Though we’ve reached an agreement in principle with the Winstanleys, there are still details to be worked out and a period of due diligence, so this is far from a ‘done deal.’" Sheehan wrote in the memo.

He continued: "We’re also working with Colliers to evaluate proposals from potential new sites for our headquarters and production. We have many exciting options in a number of locations, so it’s anyone’s guess – mine included – where we ultimately move. We will update you as we get closer to making a final decision. We’re looking to move sometime in late 2016/early 2017, so it won’t be long before we have a much clearer picture of our future."

The Globe hired commercial real estate brokerage Colliers International to market its 16.5-acre site in April. At that time, Sheehan said the Globe was looking at properties closer to downtown Boston for its newsroom and business offices, but hadn’t determined whether it will keep those operations and the press room together or in separate locations.

The Globe moved to the 815,000-square-foot building in 1958. It houses approximately 1,400 employees.

Globe Negotiating With Winstanley Enterprises For HQ Sale

by Banker & Tradesman time to read: 1 min
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