Would The Inquirer Building Go Condo?

Steve Volk reports on philadelphiaweekly.com about the a recent Joe Natoli memo which featured, Q&A-style, this exchange:

Q: I heard something about our downtown building being for sale. Is that true?

A: No, but that’s under review. Our building is under-utilized. Options include leasing open space to others, selling the building in a sale/lease-back (which would generate cash to pay down debt, without requiring a move), or selling the building and leasing space in another facility. The issue is how best to realize the value of our real estate. That’s made more interesting by the school board’s recent move to North Broad Street, CBS’s plans to become our neighbor and the Governor’s proposed sale of the state office building just north of us. A decision on the building is probably months away. Having said that, we would always expect to maintain a significant presence in Philadelphia.

Natoli tells Volk that the Inquirer isn’t moving to the suburbs, even if that’s what one could infer from this memo. You can read the whole story and memo here.

Inquirer/Daily News Considering Move to the ’Burbs? [PW]