The former Ashland Daily Tidings building on Siskiyou Boulevard has been sold to Brian Patridge for $550,000.
Patridge said Monday the 8,000-square-foot former newspaper building is being converted into office space for a short-term, on-line lending company.
"Everything is gutted down to the walls," Patridge said. "It's basically down to the bones."
Patridge said his interest in the building, which sits on 1.7 acres, was a combination of good price and its Ashland location.
"Ashland is home base for me," he said. "I'm sure there were well-priced buildings in Medford, too."
He said permits for the interior remodel should be in hand this week and he expects to open for business in four months.
"The architecture will be different from what you see in this area," he said. "It won't have a vanilla drop ceiling."
The transaction between News Corp's Dow Jones unit and Patridge closed in May.
The building was erected in the early 1960s and went through a succession of ownership changes as the Daily Tidings changed hands.
Ottaway Newspapers Inc., a unit of Dow Jones, acquired the Daily Tidings from Lee Enterprises in October 2002. The Tidings then became part of the Dow Jones Local Media Group after News Corp acquired Dow Jones in 2007. Press operations moved to Medford at the beginning of 2005 and the Tidings staff moved out of the building in December 2010.
When the Local Media Group became part of GateHouse Media last year, the former Tidings building was not part of the deal.
Patridge has been part of a jewelry manufacturing operation that was recently sold.
"We sold jewelry in the resort retail market," Patridge said. "We did gold and platinum inlays for jewelry you would see anywhere there is a beach and sun. If you saw a whale's tail ear ring in Maui, it's something we did."
He also retains a stake in a family-owned Cash Connection pawn shop businesses.
Reach Mail Tribune reporter Greg Stiles at 541-776-4463 or firstname.lastname@example.org. Follow him on Twitter @GregMTBusiness, friend him on Facebook and read his blog at www.mailtribune.com/Economic Edge.