$40M for Houston Chronicle HQ: High Hopes: Whisper Number is

The 10-story Houston Chronicle building, 801 Texas Ave. is being sold. Photo: Ralph Bivins

In Houston, Hearst Corp. is hoping to fetch as much as $40 million in the sale its downtown Houston Chronicle property.

Employees of the nation’s sixth largest newspaper are slated to relocate to the company’s facilities on the Southwest Freeway near Loop 610 in the fall of 2016.

HFF is marketing the Chronicle’s downtown property, covering 99,184 sq ft of land on two blocks. It includes a 10-story building, 801 Texas, which will be demolished and a 560-space parking garage at 710 Preston.

With diminished short-term demand for new office and residential, the buyer is slated to be patient money with that can afford to hold the site for a number of years. No asking price was reported.