Union Leader building sold; news company staying put
The Union Leader building was built in 1989 when the media company relocated from Manchester's downtown to East Industrial Park. (File Photo)
MANCHESTER – The Union Leader building at 100 William Loeb Drive has been sold. New Hampshire's largest independent news company will remain as a tenant in the iconic 173,000 square-foot facility it built in 1989.The deal was completed Thursday. The new owner is an affiliate of Amber Properties of Westchester County, N.Y., affiliates of which own several properties in New Hampshire and Connecticut. The company intends on undertaking a complete renovation of the Union Leader building.
Also continuing as tenants in the building in the city's East Industrial Park are Eagle Warehousing and Distribution and the Mill Falls Charter School, a Montessori model for kindergarten through grade 6.
A second charter school, Making Community Connections, will also become a tenant. The charter high school will relocate its Manchester campus from Rogers Street. Known also as MC2, the school has a second campus in Keene.
Union Leader Publisher Joseph W. McQuaid called Thursd ay a "bittersweet day."
"A building this size made sense when we were also a production and warehouse facility and the internet was an infant. Now, with printing outsourced and news companies facing multiple challenges and new opportunities, it doesn't fit the model."
After some fitup and reconfiguring of space this fall, the Union Leader will relocate within the building, with all its departments in close proximity. These include the Union Leader and Sunday News, Neighborhood Newspapers, as well as UnionLeader.com and NewHampshire.com and their related advertising, marketing and circulation offices. A new visitors entrance is planned.
While the sale removes considerable operating costs, it doesn't end all the challenges.
"Even as we pivot to meet new media c hallenges, we must right-size to fit our business," McQuaid said. "Consequently, a small reduction in force will affect four or five individuals."
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