The Buffalo News has nearly one-third of its office space in downtown Buffalo up for lease.
The Buffalo News has retained Clarke Thrasher from Hunt Commercial Real Estate to find tenants for as much as 60,000-square-feet of the its five-story, 173,637-square-foot building.
Putting the "for lease" sign out comes at a time when the nearby Canalside district is beginning to come into its own thanks to the opening of the One Canalside Building and this fall's opening of the HarborCenter project - both of which are located just across Washington Street from the Buffalo News.
"In terms of timing, it is a fantastic opportunity," Thrasher said.
The News, which is part of Berkshire Hathaway Inc. of Omaha, Neb., is seeking $20 per square foot for the space.
Carol Horton, Buffalo News vice president of marketing and public relations, confirmed the News has put portions of its ground floor along the building's fourth floor and part of its fifth floor up for lease. The floors handled a variety of functions from circulation to some executive offices.
"As we expand our digital portfolio of products, including Buffalonews.com, Buffalo.com our apps and e-edition, the physical space that we traditionally needed is no longer necessary," Horton said. "Much of our news gathering and content production for both the print edition and our digital products is now done mobily, allowing us to free up some space."
The News has 800 employees, most of whom are based out of the building that first opened in 1977.
Periodically, the News has leased out portions of its building in recent years including Z28 Labs that opened its offices in there two years ago.
"With the growth of Canalside we are now being approached by organizations to lease out some of our space," Horton said.
The News is not leaving the building and is fully committed to staying in downtown Buffalo, Horton added.
"It would have been more cost effective years ago for us to move to the suburbs, but we feel it's important for The Buffalo News to be located in Buffalo," she said.