Thursday, October 25, 2007

Hearst considers offers for Chron building

Hearst Corp. is talking to developers about selling the Chronicle building at Fifth and Mission streets to take advantage of the area's surging real estate values. The Chron quotes Stephen Hearst, vp and gm of Hearst's West Coast land management unit, as saying the company is committed to keeping the Chron in San Francisco. But he provided no details about a potential new location. He expects to receive proposals from developers by mid- to late-November. Hearst said he is "reasonably confident" a sale will take place. A story today gives details about what Hearst plans to sell. Chron management has been talking about selling the building for a couple of years. In December 2005, Pubisher Frank Vega said a developer was interested in buying the Fifth and Mission site, but he said at the time it wasn't for sale. (Photo credit: Deanne Fitzmaurice, Chronicle, file)

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