Looking for information on Downtown LA?

Angelenic is the essential news resource for those living, working and visiting Downtown Los Angeles. Check out our homepage for the latest restaurant, retail, and cultural news in the neighborhood.

RSS or email feeds make it easy to receive angelenic in your inbox every morning!

Last year, the Tribune Company made headlines after it proceeded with an $8.2 billion acquisition of eight key real estate properties around the country that included the five-building Times Mirror Square at 1st and Spring.

Some expert observers at the time surmised that Chairman Sam Zell — known for his ability to reposition investments and maximize their value — may have big plans in store for the landmark Downtown property, home to the Los Angeles Times.

Today, all indicators are pointing in that direction.

According to a USA Today article published this afternoon, the Chicago-based newspaper publisher is enlisting the help of real estate firms to “explore ‘strategic options for maximizing the value’ of Tribune Tower [in Chicago] and Times Mirror Square.” Furthermore, the article also states the company has no intentions of relinquishing its ownership position in either of the properties, which Zell believes are currently under-utilized.

Could some much-need investment dollars be on the way to spruce up the aging asset? Brown parking structure, I’m looking at you.

-Tribune explores ‘strategic options’ for its buildings (USA Today)
-under new ownership, times building fate unclear

Check out these related posts:

1. under new ownership, times building fate unclear
2. la times takes ignorant stance on downtown market
3. the l.a. times moves downtown
4. los angeles times: ‘from gritty to glamorous’