DallasNews Corporation, owner of the Dallas newspaper Dallas Morning News, has closed on the sale of its printing facility in Plano, for the princely sum of $43,500,000.
According to a release, the property will be occupied by by Denago EV, a company that makes Low Speed Vehicles and cutting-edge golf carts. A release says they're based in Dallas but their Linked-in has them based in St. Petersburg, Florida. Either way, they'll use the Plano facility as their Southern U.S. production and manufacturing base.
DallasNews Corp. originally sealed the deal on the sale on December 16, 2024, part of its commitment to streamline printing operations into a smaller, leased facility in Carrollton.
The company plans to use a portion of the proceeds from the sale to fund the company’s pension liabilities – eliminating what they currently view as debt.
Located at 3900 W. Plano Pkwy., the plant was built in 1984 on a nearly 29-acre property at the southeast corner of Coit Road. The company put it on the market in September 2024, when its value stood at $12.6 million for land and $6.5 million for the building.
Relocating to a smaller Carrollton facility is expected to save them $5 million a year, while eliminatiing 85 jobs.
As of the 3rd quarter of 2024, the newspaper had 63,671 print subscribers — down from 69,694 print subscribers in 2023.
DallasNews Corp. CEO Grant Noise said in a statement that the company was "very pleased with the financial outcome from the sale of our Plano facility," calling it "an important milestone in our Return to Growth Plan and the additional value of voluntarily fully-funding our pension plan brings certainty regarding retirement benefits for more than 1,300 current and former employees.”
Dallas Morning News printing plant in PlanoFoundry Commercial
