Boston Globe in negotiations with possible buyer for Morrissey Boulevard HQ
The Boston Globe is in negotiations with a potential buyer for its Morrissey Boulevard headquarters, the newspaper's chief executive said.
Winstanley Enterprises of Concord wants to turn the 16.5-acre Dorchester site into a mixed-use property, Mike Sheehan told employees on Tuesday.
The Globe (http://bit.ly/1y3D2aj ) in April announced it had hired Colliers International to solicit bids for the 815,000-square-foot facility and surrounding property.
Sheehan said, "there are still details to be worked out and a period of due diligence" before a deal is completed. No price has been disclosed and a purchase-and-sales agreement has not yet been signed.
The Globe is also working with Colliers to find new sites for its newsroom, business and printing operations. Several sites around the city are being evaluated for a move planned for late 2016 or early 2017, he said.
The Globe has been at the Morrissey Boulevard site since 1958. About 1,400 employees currently work there.
Winstanley Enterprises owns 43 buildings, totaling 5.5 million square feet throughout New England, including commercial and industrial properties, biotechnology labs, and retail space, according to its website.
The Globe and affiliated businesses were purchased by principal Boston Red Sox owner John Henry from The New York Times Co. for $70 million in October 2013.
Information from: The Boston Globe, http://www.bostonglobe.com