Salisbury Newsmedia reaches agreement to sell Innes Street building; Post to remain tenant
Published 3:43 pm Friday, October 23, 2020
SALISBURY — Salisbury Newsmedia LLC, which owns the Salisbury Post, has entered into an agreement with a developer with offices in North Carolina to sell its building at 131 W. Innes St.
As part of the deal, the Post and the Rowan County United Way would remain in the building as tenants. The Post and developers will now complete their due diligence before the deal is finalized.
“We are pleased to be at this stage with this developer and are fully supportive of their plans for the property,” said Post Publisher John Carr. “Our business continues to change and develop positively in areas that do not require nearly as much space as in the past. This change gets our team in the right amount of space with the right tools to focus on our future right here on West Innes Street.”
After operating as a printing hub for USA Today and other nearby newspapers for several decades, The Salisbury Post began a partnership in 2019 with BH Media Group to print and package its newspaper in Winston-Salem. The Post’s editorial and advertising offices were also recently moved from the building’s third floor to the first. Those decisions left most of the roughly 47,000-square-foot building vacant.
Since putting the building on the market in the spring, Salisbury Newsmedia has received interest in the property from several entities. For Century 21 real estate agent Cathy Griffin, who represented Salisbury Newsmedia in negotiations, it was about finding the offer that made the most sense for interested parties and the surrounding area.
“It was very important to get the right fit for the community,” Griffin said. “You just can’t go out and find someone. It has to come together. I think sometimes things are meant to be.”
Carr said that he was pleased to see how the deal came together and is excited for what the building’s new owner has in store.
“I want to credit Cathy and her team for representing us and finding a buyer that will utilize the property in a way that will be beneficial to the Salisbury community,” Carr said.
The Salisbury Post has been located in the building since 1922, when it moved from the Shaver Building at 110 W. Innes St. Griffin, a Salisbury native, remembers watching from the building’s window as the press printed off copies of the newspaper when she was a child. Griffin said that she was “honored” to be able to help give a building that has meant so much to downtown a second life.
“Having lived here my whole life, I was honored to be involved with this transaction,” Griffin said. “I sell a lot of real estate, but this was very important to me.”
Griffin said that her partner Ashlee Flippin has also been critical during the deal’s negotiations so far.
The Post will continue to report on the transaction as more information becomes available.