Self-storage
chain owner buying Martinelli Publications
By
ALEX PHILIPPIDIS :: March 9, 2007
Martinelli Publications
has agreed to sell its chain of nine weekly newspapers
and the Yonkers building that houses their offices to
the owner of a self-storage chain with a dozen warehouses
in the region and an appetite for property in the city’s
downtown.
Francesca Martinelli said her namesake publishing company
is in contract with an entity of Tuck-It-Away Self Storage,
which runs 12 warehouses in Manhattan, the Bronx and
Newark, N.J.
Tuck-It-Away is owned by Nick Sprayregen, who has already
acquired an adjacent property for an undisclosed price
-- the 10,500-square-foot 25 Warburton Ave., previously
occupied by Office Products Central Inc. and predecessor
office products seller Federman & Miele. Robin Herko
and Steve Lorenzo, both executive vice presidents with
NAI Friedland Realty in Yonkers, represented both the
buyer and seller in the 25 Warburton transaction.
Martinelli is the widow of Ralph R. Martinelli, who died
in 2005. He continued his father’s Yonkers Times
newspaper, now called the Yonkers Home News and Times,
then expanded the business over more than a half-century
by launching and acquiring additional weeklies.
The company
has some 15 employees.
Today Martinelli Publications announced its sale in a
front-page editorial in the current editions of its weeklies
-- a day after the Business Journal called Martinelli
seeking confirmation of the pending sale, which has generated
buzz in local real estate circles.
Martinelli Publications is one of two regional newspaper
groups to change hands this week. On Tuesday, Journal
News publisher Gannett Company Inc. announced it was
acquiring from Tribune Co. its Southern Connecticut Newspapers
Inc., which publishes Greenwich Time and The Advocate
of Stamford and Norwalk for a combined $73 million.
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