Tribune Media sells Long Island property for $54.5 million

Tribune Media sold a 48-acre parcel to Hartz Mountain Industries for $54.5 million — 32 acres of it housed the former office and printing operations for Newsday.

The details: When Hartz emerged to be the likely winner of the bid, the developer said it plans to demolish the more than 413,500-square-foot facility and build “state-of-the-art” warehouse and distribution space in its place, according to Newsday.