CHARLOTTE — Charlotte-based developer Lincoln Harris is under contract to buy the Charlotte Observer’s 9.4-acre uptown headquarters site as the newspaper offices plan to relocate.
The Charlotte Observer reports a spokesman says the purchase agreement has been signed. Lincoln Harris has a 60-day due diligence period before the sale closes, during which the company can evaluate the purchase and could still back out.
The site is one of the largest tracts on the south side of uptown Charlotte, which is seeing a major redevelopment boom.
The Observer is searching for more modern offices and is still evaluating sites.
Last year, the newspaper shut down its presses on the building’s first floor and transferred printing to a newer press in University City. News, advertising and administrative functions remain in the Observer building.