The Billings Gazette announced last week that their headquarters building in downtown Billings is for sale. The 94,000-square-foot building at 401 N. Broadway has become something of a highly visible icon in the community since it was built in 1967.

“This decision is being made simply because the building is too large for our current needs,” said , President and Publisher Dave Worstell. “Financially, the Billings Gazette is in good shape. We are very optimistic about our future as the preeminent news provider in the city, region and state, and a partner in helping local businesses connect with customers through our digital and print marketing products.”

The building has been listed with local real estate company Berkshire Hathaway Commercial Services for $7.865 million.

The building was designed by architects Drake, Gustafson and Associates for the Billings Gazette, Montana’s largest daily newspaper, publishing for the past 136 years. The company expanded the building in 2007. The property has 120 parking spaces on the surrounding lot

According to Worstell, “The sale of the building, when it happens, will not affect the news and advertising operations of the Billings Gazette. At some point, the sale will change our local printing and production operation, and this will have an impact on that staff.”

He said the Gazette has been “approached multiple times over the last year from interested potential buyers. Because our building is underutilized and offers more space than we currently need, we felt like the time was right to explore a sale.” He said that “when the time is right to move locations, we will look for a new downtown Billings location that is the correct size for our operations and has convenient access for our customers.”

First published in 1885, The Billings Gazette is one of several newspapers in the state owned by Lee Enterprises. It is the largest daily newspaper in Montana but as has been the case with most of print media in the nation, circulation has been on the decline with the advancement of digit communications. The newspaper’s current circulation is about 11,000 compared to a 2005 circulation report of over 46,000.