A New York developer has agreed to buy the Boston Globe’s 16.5-acre headquarters on Morrissey Boulevard for approximately $80 million.
According to a report in the Boston Business Journal, the potential buyer is David Ridini of Center Court Properties, which is developing luxury condominium projects in Beacon Hill and downtown Boston.
Globe CEO Michael Sheehan announced earlier this month that the property was under agreement. Globe owner John Henry had earlier agreed to sell the property to Concord-based Winstanley Enterprises in 2014, but the deal fell apart in 2015.
The Globe is preparing to move its editorial and business operations to 53 State St. in the Financial District next year, after leasing 75,000 square feet in May. It will move its printing operations to a site it’s acquiring in Taunton at 300 Constitution Drive.
The reported price for the Morrissey Boulevard property, at $80 million, would top the $70 million that Henry paid in 2013 to acquire the Globe, Boston.com and the Telegram & Gazette of Worcester. Henry sold the Telegram & Gazette in 2014.
Ridini is part of a development team that has proposed a luxury condo tower at 171 Tremont St. in Boston. Center Court LLC also is the developer of a recently-approved 71-unit condo project at 33-61 Temple St. in Beacon Hill, at a two-building complex acquired from Suffolk University for $43.5 million.
The Morrissey Boulevard site is viewed as having the potential for a large mixed-use development with a substantial housing component.
Colliers International Boston has represented the Globe in the disposition. The site has attracted interest from dozens of developers looking at uses including retail, offices, housing and hotels, said Thomas Hynes, CEO of Colliers Boston. Some have indicated they would retain and redevelop portions of the existing building, while others would do a complete demolition, he said.
Meanwhile, car dealer Herb Chambers is moving forward with efforts to redevelop a neighboring parcel in Dorchester, the former WLVI-TV studios.
Chambers plans to build an 80,000-square-foot Jaguar and Land Rover dealership at 75 Morrissey Blvd., according to the Dorchester Reporter. Chambers received Boston Redevelopment Authority approval for a used car lot on the site in 2013, but never moved forward with the earlier project.
