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Economy / Business

Tampa Bay Times Sells St. Petersburg Headquarters

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The Tampa Bay Times has announced it sold its eight-story downtown St. Petersburg building for $19 million to a joint venture group: Convergent Capital Partners and Denholtz Associates.

The newspaper will continue to operate out of several floors of the building at 490 First Ave. S., under a 15-year lease, the Times reports.

The money will be used to pay off part of a $25 million loan the newspaper took out several years ago. The Times also has sold other real estate it owned including: a building in Hernando County; a parcel on N 34th Street near its St. Petersburg printing plant; and two downtown parking lots that were adjacent to the headquarters.

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