The News & Record building at 200 E. Market St. owned by BH Media Group, a subsidiary of Berkshire Hathaway Inc., which has been for sale since September 2017, is reportedly under contract to Greg Dillon, the president of Dillon Development Partners headquartered in Frederick, Maryland.
Dillon is also a partner in the downtown Westin Hotel-February One Place parking deck project that is being built as a public-private partnership with the City of Greensboro.
The Westin Hotel-February One Place parking deck is being built directly across Davie Street from the News & Record property, which has been the home of the newspaper since 1976. Last fall the News & Record closed down its presses and started printing the newspaper in Winston-Salem.
The News & Record building on 6.7 acres has a tax value of $9.9 million and the asking price was reportedly $10.9 million.
The property has been described as arguably the most significant single piece of real estate in downtown Greensboro. When the property first went on the market, the City of Greensboro expressed an interest in purchasing it.
Although the agreement has been reached, the sale is not supposed to close until the fall of 2019. The N&R also reports that it has a lease back option, so the newspaper offices could be in the building for the next couple of years.
Dillon has also served as vice president of finance for Jack Kent Cooke Inc./Washington Redskins Football Inc. and was heavily involved in the construction of FedEx Field.