Hotel operator buys The Times-Dispatch building in Richmond

Save Story
Leer en español

Estimated read time: 1-2 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

RICHMOND, Va. (AP) — A hotel operator has purchased The Times-Dispatch building in Virginia’s capital city, but the Richmond newspaper will remain in the downtown building under a long-term lease, the companies announced Thursday.

The Times-Dispatch reports that its newsroom, advertising and administrative offices will be consolidated on one floor of the four-story building. A subsidiary of Berkshire Hathaway Inc., which owns The Times-Dispatch and 29 other daily newspapers, sold the building to an entity tied to Shamin Hotels.

The hotel operator also purchased an adjoining 699-space parking deck. Shamin, which operates 59 hotels in six states, plans to move its corporate headquarters from Chester, Virginia, to the building later this year.

The newspaper reports that court records show the 172,110-square-foot (16,000 square-meter) building was acquired Monday for nearly $14.5 million. The deal did not include a 427,000-square-foot (40,000-square meter) production facility in Hanover County.

The Times-Dispatch has 320 employees, including 141 working at the downtown building, where The Times-Dispatch and the former Richmond News Leader have operated since 1923.

The Washington Post, The Seattle Times, the San Jose Mercury News and other newspaper owners have sold their buildings in recent years.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

The Associated Press


    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast