Chicago media company Tribune Media Co. has sold a trio of properties for a combined $430 million, including the Los Angeles Times building in downtown Los Angeles.
The sale of Times Mirror Square to Onni Group paves the way for the redevelopment of a historic building the paper has called home since 1935. The Vancouver firm has explored turning the property at 202 W. 1st St. into a collection of creative offices, shops and residential units.
The Times reported in June that Onni had signed an agreement to buy the building. The sale officially closed Monday night, a source familiar with the deal said Tuesday.
Tribune Media formally announced the sale...