A subsidiary of Gannett Co. Inc. has sold the Now Media Group office building in Waukesha, which has not been used since the publishing company centralized news coverage in downtown Milwaukee last summer.
New York-based 1741 Dolphin Drive Inc. purchased the 13,000-square-foot industrial building at 1741 Dolphin Drive from Journal Sentinel Inc. for $880,681, according to state records.
Dolphin Drive Inc. is registered to Twenty Lake Holdings, a New York-based commercial real estate company that invests in legacy newspaper properties, surplus corporate real estate and high yielding transitional real estate backed by companies with investment grade and non-investment grade credit, according to the company’s website.
In August, Journal Community Publishing Group closed the Now Media Group newsroom and moved NOW editors into the Journal Sentinel newsroom at 333 W. State St.
About 30 NOW reporters also have work stations in the newsroom and also work remotely in the suburban communities they cover, said George Stanley, editor of the Journal Sentinel.
