Idaho Statesman building again for sale as parent company faces stock market delisting

A STORY BOISEDEV MEMBERS GOT FIRST

McClatchy Company again hopes to sell the large Idaho Statesman building and property on the Boise Bench.

The news comes as the NYSE American stock exchange warned the company it faces delisting. The exchange said McClatchy has a “stockholder deficit” — meaning if everything the company owned was sold and all debts were paid off the stockholders would get nothing in return. Essentially, McClatchy owes more money than it is currently worth.

BoiseDev first reported in 2016 that McClatchy hoped to sell the large building and surrounding land. The Statesman’s publisher at the time said she hoped to move the operation to newer office space in Boise. The current Statesman building dates to 1972 and includes a large printing press facility that closed in 2008. Workers in Twin Falls now print the paper and deliver it to Boise for distribution.

A deal to sell the Stateman facility last year fell through according to sources close to the deal.

On September 3rd, the largely industrial building went back on the market. The 6-acre property and 103,454 square foot building includes more than 261 parking spots. The listing notes the property sits inside a Federal Opportunity Zone.

“Potential to redevelop site for mixed-use, medical office or hospitality with rezoning,” the sales flier notes. In 2016, commercial agents listed the property for $6.9 million. The new price is 25 percent lower at $5.5 million.

The Idaho Statesman remains the most-circulated daily newspaper in Ada County according to 2018 figures from the Alliance for Audited Media.

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