Newspaper giant Gannett Co. Inc. has sold the plant in Sterling Heights, Michigan, where the Detroit Free Press and Detroit News are printed, as are USA Today, New York Times and other publications for local distribution.
A deed shows that Gannett Publishing Services LLC sold the property — known as the Detroit Media Partnership Sterling Heights Operations Facility — to Sterling Heights Mound LLC, which is connected to Industrial Commercial Properties LLC, based in Mayfield Heights.
The purchase price is not known.
“Gannett has a long-term lease agreement with the property at 6200 Metropolitan Parkway, with no intention to move,” Wayne Pelland, SVP of Gannett, said in an emailed statement. “In addition, Gannett maintains ownership of the press and related equipment, printing 32 daily publications in addition to numerous weekly and commercial products.”
Christopher Semarjian, CEO of Industrial Commercial Properties, known as ICP, said the property will continue churning out newspapers, but a four-acre chunk of a land may be utilized for development of other buildings.
“We are very bullish on Detroit and the suburban markets,” Semarjian said. “We own millions of square feet in the region and think it’s a great place to own long term.”
ICP has been active in Michigan in recent years.
For example, in 2018, it bought a 182-acre chunk of the former Ford Motor Co. Wixom assembly plant site Click to read article from Crain’s Detroit