Downtown parking lot off the market
GREENSBORO — The News & Record has taken its downtown parking lot off the market because of problems brought on by the recession, a company executive said Monday.
The newspaper put the 3.5-acre lot up for sale in May 2008, for $5.6 million.
“The efforts to sell this property received considerable interest from numerous developers and commercial investors,” Robin A. Saul, the newspaper’s president and publisher , said in an e-mail to employees, “but the effects of the severe economic recession have made an accurate valuation and necessary financing difficult.”
Saul said the company would be interested in selling the site when market conditions improve.
The property, across from The Depot, is bounded by Washington, Church, Davie and Hughes streets. It includes 280 parking spaces, a 31,000-square-foot building and 1,675 feet of road frontage.
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