MEMPHIS, TN (WMC) - The Commercial Appeal will sell its home at 495 Union Avenue and relocate after 40 years.
According to The Commercial Appeal, President Mike Jung announced the news to employees Monday during a town hall meeting.Real estate firm CBRE will have the building on the market in the next two to three weeks.
Jung says the company is looking for a new location that will suit the current size of the enterprise.
Employees were asked to share ideas for potential locations in the Memphis area.
Two months later, the company discontinued printing. The daily newspaper in Memphis was moved to print with The Jackson Sun, a Gannett property, with newer presses and better technology.
In November 1977, The Commercial Appeal moved into the new office building, a couple of years after opening a 150,000-square-foot production building.
The Commercial Appeal had about 1,300 employees at the time Memphis Publishing Co. was built. The building now has fewer than 200 employees.
The decision to relocate comes at a time of renewal in Downtown Memphis. Investors have been planning and buying property for future development.