New York brokers get nod to market L.A. Times building

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Tribune Co. has picked two New York commercial real estate brokerages to market the Los Angeles Times building downtown and Tribune Tower in Chicago to investors, the company said today.

Cushman & Wakefield will look for buyers for The Times’ historic headquarters at 1st and Spring streets in Los Angeles, and Eastdil Secured will attempt to sell the landmark Tribune building overlooking the Chicago River, said Stephanie Pater, director of real estate for Tribune.

Prices for the properties have not been set, Pater said, but The Times’ headquarters was valued at about $150 million, and Tribune Tower might garner around $230 million, according to industry trade publication Real Estate Alert.

Tribune announced in June it would sell the buildings to help pay down debt.

-- Roger Vincent

Questions? Comments? E-mail roger.vincent@latimes.com.