Former Copley Press headquarters sold

Copley Press Inc., an institution run by the Copley family who for decades controlled the San Diego Union-Tribune and other local newspapers around the country, has finally completed the sale of its former corporate headquarters, a 25,600 square foot office building on Ivanhoe Avenue in La Jolla.

Though the group has sought to sell the property since early 2011, the building had been offered for sale or lease since early 2010, and was taken off the market at the end of 2011, with no takers at the $9,850,000 asking price.

A deed transferring the property to Ivanhoe Investors, LLC, a company listing a Fay Avenue address in La Jolla was recorded on October 2. No sales price was reported in an online public records search. The building’s most recent tax base, for the 2012 fiscal year, was $4.97 million. The Ivanhoe group used a $2.3 million loan to fund part of the purchase.

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