Shortly after announcing buyouts at its Vancouver newspapers, Postmedia Network says it's now vacating two floors occupied by the Vancouver Sun and The Province at its 200 Granville Street location. 

Pacific Newspaper Group, a subsidiary of Postmedia, announced a buyout program for its employees earlier this year. Its publisher Gordon Fisher confirmed with J-Source that the company is looking to sublease its sixth and seventh floors of its prime downtown Vancouver location, each with approximately 12,240 sq. feet, to May 2017 and possibly longer for "below market sublease rates."

Real estate company Colliers International has posted a brochure for the vacated space on its website.

200 Granville, also known as Granville Square or the Vancouver Sun and Province building "is home to a number of tenants ranging from resource firms to British Columbia’s two leading newspapers, the Vancouver Sun and The Province," according to the property listing on Waterfront Properties.ca.

"With 28 floors of top-quality office space, this Class A building, which was built in 1973, is still a distinctly recognizable building and features a beautifully landscaped plaza that is an integral part of Vancouver’s waterfront landscape."

Postmedia Network, which saw a 10 per cent revenue dip in its second quarter results earlier this year, is also looking to get out of building ownership business. It recently sold its Windsor Star and National Post properties in favour of becoming anchor tenants in downtown locations in Windsor and Toronto respectively. 

Tamara Baluja reports for J-Source, where this article first appeared.