Business

Sale of Boston Globe headquarters falters as buyer withdraws

Plans to sell The Boston Globe’s 16.5-acre headquarters site in Dorchester stalled when one of the proposed buyer’s financiers withdrew from the project.
John Blanding/Globe Staff/File
Plans to sell The Boston Globe’s 16.5-acre headquarters site in Dorchester stalled when one of the proposed buyer’s financiers withdrew from the project.

The Boston Globe said Friday it would not sell its Morrissey Boulevard headquarters to Winstanley Enterprises as planned because one of the buyer’s financiers withdrew from the project.

Mike Sheehan, chief executive of the Globe, said the parting with the Concord firm was amicable. Globe executives are working closely with the city and Mayor Martin J. Walsh on future development plans for the 16.5-acre site, he said.

“The property is a well-situated and sizable parcel of land and we will want to find the right partner, but we are in no rush,” Sheehan said.

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Adam Winstanley of Winstanley Enterprises said the property, which includes the 815,000-square-foot Globe building, “is great real estate but ultimately it was not the best fit for our capital partner at this time.’’

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He added, “We know that this will be a great development and will bring jobs and opportunities to the neighborhood. We leave this process with respect for all of those involved.”

The property is just south of downtown Boston, across from the University of Massachusetts Boston. The Globe reported in November that it was in talks to sell the building to Winstanley.

Sheehan said a delayed sale of the building would not change the company’s plans to move its printing operating to Taunton and seek a new site in the city for the Globe newsroom and business offices.

“Everything is full steam ahead,’’ Sheehan said.

Beth Healy can be reached at beth.healy@globe.com. Follow her on Twitter @HealyBeth.