TKC BREAKING NEWS MUST SEE!!! HEY, ANYBODY WANNA BUY THE KANSAS CITY STAR BUILDING NOW FOR ONLINE SALE?!?
Tonight our KICK-ASS TKC BLOG COMMUNITY hits with HARD NEWS of an EPIC DEAD TREE MEDIA REAL ESTATE DEAL that should resonate throughout the world of journalism.
To wit . . .
CHECK THIS WEBSITE OFFERING KANSAS CITY STAR BUILDING FOR SALE WITH AN ASKING PRICE OF A PALTRY $46 MILLION!!!
Take a peek . . .
More news about the listing of the so-called "Crystal Casket" for journalism . . .
We are pleased to offer for sale a portfolio of commercial real estate assets which make up the administrative and production facilities of the Kansas City Star newspaper.
The properties are on three parcels totaling 8.3 acres, with building improvements totaling 650,176 square feet. The offering is divisible.
The properties are owned by a wholly-owned subsidiary of The McClatchy Company (NYSE: MNI), a media company that operates 29 daily newspapers in 28 markets and
numerous digital media entities including websites, mobile apps, mobile news and advertising services, niche publications, direct marketing and direct mail services, and nondaily community newspapers. It owns 15.0% of CareerBuilder, LLC, which operates job-search website, CareerBuilder.com. The McClatchy Company was founded in 1857 and is headquartered in Sacramento, California.
Concurrently with closing, The McClatchy Company will execute a 15-year NNN lease.
The properties in the portfolio consist of office buildings, production facilities, warehouse and distribution facilities, parking lots, and fleet maintenance facilities . . .
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We've confirmed this sale with people much smarter than TKC and loopnet is a pretty decent source with a West Coast real estate agent listed who has ties with parent Company McClatchy . . .
And so . . .
I've got a few bucks to kick in so anybody who wants to buy this thing with TKC . . . Send an e-mail.
However, just a bit of Sunday night contemplation . . .
THIS EPIC KANSAS CITY STAR LISTING SIGNALS THE END FOR THIS DEAD TREE MEDIA INSTITUTION BUILDING NOW ON THE INTERNETS AUCTION BLOCK!!!
Like it or not, this is BIG NEWS that we're going to savor considering that this institution has done its best to suppress local citizen media and DEMOCRATIC community based coverage of Kansas City.
No updates till late Monday morning . . . In the meantime, tell us what you think about the future of this newspaper which the Internets seyz is giving up OWNERSHIP of its posh downtown digs.
You decide . . .
I've got five on it!
ReplyDeleteI bought a used Volkswagen Scirocco on loop net. I feel like I was overcharged. I see the same thing happening here.
DeleteI've heard about the print facility but not the professional buildings. This is a sad day for local journalism in Kansas City and this shouldn't be noted with glee but with reverence. We're looking at the last days of journalism and from what I've seen social media isn't going to replace it.
ReplyDeleteMAYBE JACK THE RIPPER WILL BUY IT AND RENT IT TO YOU T9NY SO YOU AND STUPOR DAVE CAN CHASE EACH OTHER AROUND NAKED.
ReplyDeleteConcurrently with closing, The McClatchy Company will execute a 15-year NNN lease.
ReplyDeleteTONEEEEEEEEEEEEEEEEEEEEEEEE YOU CANNOT EVEN FUCKING READ?
over priced.
ReplyDeleteWay overpriced!
ReplyDeleteI stashed a half a Doobie in their shrubs on the way to a concert. It was gone when i came back. The editorials the next day were decent.
ReplyDeleteThat's all I've got.
WTF you spend 46 million and still forced to lease for 15 years? No. If you are going to spend that kind of money it comes as is to do whatever you want.
ReplyDeletehttps://en.m.wikipedia.org/wiki/NNN_Lease
ReplyDeleteDo the tax breaks go with the sale?
ReplyDeleteMust be a Reece agent with such an overpriced listing. Then, they'll berate you for bringing to their attention.
ReplyDeleteThe citizens of Pittsburgh are hoping the McClatchys offload the Pirates too!
ReplyDeleteHEY TONY CALL MCCLATCHY AGAIN AND ASK WHEN THE STAR STOPS PUBLISHING AS MANY AS THREE OF THEIR DAILY EDITIONS LIKE U DID IN 2009.
ReplyDeleteTHAT SURE HAPPENED! YOU'RE ALWAYS RIGHT!!!
NNN Lease. Good deal for the ass wipe paper, plenty of headaches for the investor.
ReplyDeleteThink of the kind of bow-tie production factory that could be turned into.
ReplyDeleteThis is a true story CBRE has it listed. List date is 2.28.17. Haters can easily check with a simple Google search if you don't have use for the loopnet app.
ReplyDelete2 COMMENTS
ReplyDelete1) Anyone remember how much it cost to replace each glass panel in this glass building? It was something astronomical. I do remember that each piece was made in China and shipped over for placement. With KC's penchant for random gunfire, who knows how many times they've had to replace one!
2) On a more serious note, this indicates a continuation and acceleration of McClatchy's strategy to stay afloat by selling off their hard assets like land, buildings, equipment, etc. The untold story, and real tragedy is that McClatchy hasn't been putting cash into the employee retirement plans, but substituting overpriced real estate holdings, etc. When McClatchy files for bankruptcy, and it's a matter of when not if, their employees/retirees are going to get screwed big-time.
ReplyDeleteJust a matter of time...the City of Kansas City will be the owner of the property by "default"...adding to the reality that Kansas City municipal gov't will continue to be the principal owner of choice real property in the metro area at the expense of the "brain dead" general population ...don't agree? ask for an independent audit of city gov't and the property owned/level of responsibility at gov't expense/responsibility...you will be enlightened to the Truth...then you will most likely...if a resident of metro KC...vomit....
do the tax breaks carry over?
ReplyDelete@6:01am makes a really good point.
ReplyDeleteDowntown KCMO consists mostly of buildings owned by government of one level or another, government leases of commercial space, buildings that are heavily-subsidized by the city, and the majority of workers are public employees.
The Federal office building and courthouse, Jackson County Courthouse, City Hall, KCPD HQ, and on and on.
Throw in a couple banks, law firms, coffee shops, and subsidized "entertainment" areas, and you've pretty well summed it up.
Publicly-owned Disneyland on the plains.
And what keeps it all floating in the air?
YOUR money.
Be sure to vote for the GO bonds.
a nnn lease is, in effect,a type of debt financing.
ReplyDeleteso, this is a way of raising funds for the owner.
sometimes the terms on a nnn lease are advantageous compared with borrowing outright.
one obvious consideration with a basically singe-use building is that a default or eventual expiration of a lease may mean the owner-lessor is left with a white elepant.
one would wonder if the likelihood of all media being digital doesn't portend an eventual obsolescence for the buiding.
I guess they could turn in into a "Downtown Hotel/Toy Train Station".
ReplyDeleteIt would have to be a very Liberal Train Station/Hotel though. Only SJW's who burn through Tax Payer Cash for the "children" can ride it and then only with an air of superiority that befits those esteemed patrons.
I'm glad that some of you people are finally realizing how morally and intellectually superior we state government Mizzou-educated public servants are, especially those of us who time STOPLIGHTS. Just remember me next time you sit at a red light in the PL District.
ReplyDeleteMake sure that the STAR starts paying for a building which they have set the price on. They always said it was worth a lot less and the County and City cut their taxes!
ReplyDeleteI would buy it but worried about serial killers in the KC area, I heard they're a lot of them??
ReplyDeleteKansas Clusterfuck City
ReplyDeleteJust offer them the actual assessed 2016 value of the building = $3,062,500.00
ReplyDeleteComes complete with taxpayer subsidies! This is a once in a lifetime opportunity for a savvy vestor! Hurry while it's lasts!
ReplyDeleteFleece Nickels Realty
Hideous dream
ReplyDeleteWrite off the bad loans and decisions, demolish it, and turn it into a god damn sitting park.
ReplyDeleteIt will be a hell of lot less expensive in the long run.
Yes, the tax breaks go with the building, and add about $20 Million to the buildings value!
ReplyDeleteSo get this KCMO taxpayers, when this sale closes you will have put $20 Million in McClatchy's pockets!!
Thanks, Sly!!! VOTE NO on $800 Million GO Bond!!!!
Where's the story on this scam, Helling and Kraske????
Thanks Sly
ReplyDelete