mileageman
March 4th, 2005, 09:30 PM
http://www.miami.com/mld/miamiherald/11052723.htm
Knight Ridder sells land but retains Herald building
BY MATTHEW HAGGMAN
mhaggman@herald.com
Knight Ridder is selling the 10 acres surrounding The Herald's bayfront building in downtown Miami for $190 million, company officials said today.
But the San Jose, Calif.-based publisher, which owns The Herald, is not selling its office building on Biscayne Bay that houses The Herald's editorial and printing operations.
After a lengthy negotiation, Knight Ridder agreed to terms late Thursday with Pedro Martin, a veteran lawyer who has burst onto the scene in recent years as a real estate developer. Martin's Miami-based Terra Group has purchased a host of high-profile properties in Miami, on which it is primarily building high-rise condominiums.
Contracts inking the deal between Martin and Knight Ridder are expected to be signed today. Edie Laquer of Laquer Corporate Realty in Miami brokered the sale of the property.
The announcement culminates a highly anticipated real estate sale. The process started in November when Knight Ridder put the property, which is primarily surface parking lots, up for sale.
Knight Ridder sells land but retains Herald building
BY MATTHEW HAGGMAN
mhaggman@herald.com
Knight Ridder is selling the 10 acres surrounding The Herald's bayfront building in downtown Miami for $190 million, company officials said today.
But the San Jose, Calif.-based publisher, which owns The Herald, is not selling its office building on Biscayne Bay that houses The Herald's editorial and printing operations.
After a lengthy negotiation, Knight Ridder agreed to terms late Thursday with Pedro Martin, a veteran lawyer who has burst onto the scene in recent years as a real estate developer. Martin's Miami-based Terra Group has purchased a host of high-profile properties in Miami, on which it is primarily building high-rise condominiums.
Contracts inking the deal between Martin and Knight Ridder are expected to be signed today. Edie Laquer of Laquer Corporate Realty in Miami brokered the sale of the property.
The announcement culminates a highly anticipated real estate sale. The process started in November when Knight Ridder put the property, which is primarily surface parking lots, up for sale.