KINGSTON, Jamaica — The RJR Gleaner Communications Group has agreed to sell its property located at 7 North Street in Kingston, the former home of the Jamaica Gleaner, to LP Azar Limited.

In an announcement on Tuesday, it was revealed that the company entered into a binding agreement with LP Azar Limited to sell the building together with adjacent lots and parking areas.

“The transaction forms part of the group’s broader strategic restructuring and modernisation initiatives aimed at optimising its operational footprint, improving efficiency across its commercial operations and enhancing long-term shareholder value,” a news release said.

The sale will support the continued consolidation of operations at the group’s Lyndhurst Road campus to which the Gleaner has now moved.

The group said the sale also allows for a more focused allocation of resources toward its core print media, digital and broadcast businesses.

Completion of the transaction is subject to customary closing conditions and is expected to occur within 45 days.