Gannett Co., the parent company of The Arizona Republic and azcentral.com, has put its Phoenix printing facility up for sale.
The property, which totals 300,000 square feet on 20 acres in the Deer Valley area, is listed for $47.7 million, according to the offering memo. The building is located at 19th Avenue and Williams Drive and includes 36 truck docks.
The offering lists the property as a sale and lease-back, meaning The Republic would lease the space for its printing facilities after the sale.
Sale and lease-back arrangements are a way for businesses to sell a property to unlock capital while continuing to occupy the facility post-sale.
Related: Gannett, parent of The Republic, continues cost-cutting measures
In addition to The Republic’s print edition, the plant also prints USA Today, The Desert Sun from Palm Springs, The New York Times, Arizona Daily Star from Tucson, Arizona Daily Sun from Flagstaff, and many other publications that are distributed throughout Arizona and into New Mexico and California.
Phoenix Newspapers Inc., which was purchased by Gannett in 2000, has owned the site since 1987.
A Gannett spokesperson said the company does not comment on real estate transactions before they close.
Gannett leases space around the country
The Phoenix printing facility move is similar to Gannett’s handling of The Republic and azcentral.com office in downtown Phoenix, which was sold in 2018 for $37.65 million.
Phoenix-based ViaWest Group bought the 10-story…
