The Ocala Star-Banner building, located at 2121 SW 19th Avenue Road, has been purchased by IRG Florida, LLC, which is a wholly owned subsidiary of the California-based Industrial Realty Group, LLC.
Gannett, which owns the Ocala Star-Banner newspaper, sold the Star-Banner building as part of a package deal to Industrial Realty Group, LLC. The other buildings included in the deal are all located in different states. The Star-Banner building in Ocala itself was valued at $5 million within the deal, which was finalized on the last week of December 2020.
However, most employees of the Star-Banner aren't going anywhere. The newspaper is simply now leasing some of the space within the building right back from Industrial Realty Group, LLC. Most of the Star-Banner staff is currently working from home due to the COVID-19 pandemic, but will return to their same offices when it is safe to do so. The building's new owners will now look to find new tenants for the remainder of the available spaces.
As for the building's new owner, IRG claims to be "a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States."
