Lakeway Publishers | Missouri
Size:
Multiple Properties
Sector:
Newspapers
Service:
Portfolio Disposition & Strategic Real Estate Advisory
From Uncertainty to Opportunity: Strategic Portfolio Disposition in a Changing Industry
When BellCornerstone was first introduced to Lakeway Publishers, the company was navigating a difficult period within the newspaper industry. Like many community newspaper groups, evaluating how real estate fits into the future of the business was imperative for continued success.
Leadership was initially cautious about engaging another brokerage firm. The company had worked with many advisors over the years and wanted to ensure that any partner truly understood the challenges facing the publishing industry.
Through ongoing conversations, BellCornerstone demonstrated that the objective wasn’t simply selling buildings—it was helping Lakeway strategically reposition its real estate holdings during a time of industry transition.
The BellCornerstone Approach
BellCornerstone began working with Lakeway to sell several properties across Missouri. Many of the facilities were smaller newspaper buildings located in rural markets, often with aging infrastructure and aesthetic challenges that can make assets difficult to sell.
Despite those hurdles, BellCornerstone successfully marketed and sold every Missouri property in the portfolio in a short period of time – except for one – the largest and most complex property in the portfolio: Lakeway’s distribution and printing facility in Louisiana, Missouri.
The building was a 37,523-square-foot industrial and printing facility built in 2017 on a 12-acre site, making it one of the most modern industrial buildings in Pike County. However, its specialized design and rural location made it a challenging asset to position in the market.
Leveraging the Ten-X Platform
Recognizing that the property required significantly broader exposure to reach the right buyer, BellCornerstone expanded the marketing strategy by partnering with Ten-X, a national commercial real estate auction platform known for generating high levels of investor and owner-user engagement.
Through BellCornerstone’s relationship with Ten-X, the property was positioned to reach a much larger audience of qualified buyers across the country—far beyond what traditional regional marketing could achieve for a specialized industrial facility in a rural market.
The Ten-X campaign created meaningful visibility and engagement, attracting interest from both investors and end-users who otherwise may never have encountered the opportunity. As exposure increased, buyer activity followed, ultimately producing serious inquiries and pre-auction interest that confirmed the effectiveness of the expanded strategy.
The Result
Through expanded marketing reach and continued persistence, BellCornerstone ultimately identified the ideal buyer—a company located approximately 25 miles from the facility with an immediate operational need for the building.
The property’s modern infrastructure, size, and proximity made it a strong operational fit, and Bellcornerstone was able to leverage the fact that the property was going to auction to produce a solid pre-auction offer.
The sale enabled Lakeway Publishers to complete the disposition of its Missouri real estate portfolio while continuing to optimize its holdings as the publishing industry evolves. What began as a cautious introduction ultimately developed into a long-term advisory relationship, with BellCornerstone continuing to assist Lakeway with future real estate opportunities across it’s the broader portfolio.
Real Feedback. Real Results.
What Our Clients Say About Working with BellCornerstone.
At BellCornerstone, we know that our success is built on the success of our clients. That’s why we listen first, act fast, and work smart — delivering measurable results that speak for themselves. With over 40 years of experience, service across all 50 states and Canada, and an 83% client retention rate, we’re proud to be the trusted partner for industry leaders nationwide. But don’t just take our word for it — hear what our clients have to say.

Santa Fe New Mexican
Patrick Dorsey
Publisher
“I have worked with BellCornerstone on many projects since first meeting them in 2013. In those 10 plus years they have earned my total trust in assisting me with various real estate transactions across the country in many different markets. I came to think of them as my in-house real estate partner as we worked together to find space to lease, lease out existing space to third parties, repurpose space to maximize rental income or save expense, sell buildings and many other building and real estate related transactions. They have been great in not only executing on our needs, but becoming a trusted consultant in providing suggestions and alternatives to more efficiently manage our space and generate positive economic impact.”

Namekagon Newspaper Services
John Mathew
President
“BellCornerstone has been and continues to be, an outstanding partner for my clients and me. BellCornerstone is a no-nonsense, down-to-earth firm with a unique understanding of the commercial real estate market especially as it relates to the newspaper industry. Bell works only for its client in a specific market and does not represent competing interests. Our relationship over the past four years has been very mutually beneficial.”

Southern Newspapers
Leonard Woolsey
President
“BellCornerstone should be everyone’s first stop when making decisions about building inventory. Professional, knowledgeable and highly effective. Make the call.”

GateHouse Media
Steve McCauley
Facility Manager
"GateHouse engaged BellCornerstone as a vendor for the review of a single transaction in Florida. BellCornerstone's recommendation & creative solutions directly resulted in saving millions of dollars, reducing term, and right sizing our operation. BellCornerstone now represents our portfolio nationwide and is considered among our most trusted advisors."

TCGplayer
Rod Mayette
VP of Finance
"BellCornerstone's knowledge of the market and thorough analysis of our options, along with their expertise and guidance, enabled us to achieve all of our goals. They found us a property that wasn’t officially on the market in a building where space was not initially vacant. The cost-benefit analysis that BellCornerstone's unique approach provided to our company was tremendously valuable. As a result of BellCornerstone's work, we were able to commit more of our time and resources to growing our business and brand."

Knoxville News Sentinel
Joel Christopher
Executive Editor
“This is an ideal relationship for everyone. [The Buyer] gets a great location to expand his rapidly growing, locally based businesses, Knox News locks in a long-term deal for its production and office needs, and other businesses get an opportunity to lease in a location with tremendous access to downtown, the airport and the interstate system.”

ConServe
Mark Davitt
CEO & President
"It is a pleasure to deal with true professionals who deliver value, and Mark Bethmann is such a professional."

EO Media Group
Heidi Wright
CEO
“BellCornerstone is uniquely positioned to assess, market and sell under-utilized facilities in the newspaper industry. Their strategic approach and market analysis ensured that our property received maximum exposure and attracted serious interest. Such was the case with our Pendleton property which Bell sold at full value in less than 120 days. Brian and Aidan offered invaluable advice that guided us through the complexities of the real estate transaction. Their expertise was evident in their ability to navigate negotiations, legal considerations and logistical challenges with ease.”

News Media Corporation
JJ Tompkins
President
“When I assumed leadership at NMC a few years ago, my primary goal was to optimize our resources. Partnering with the BellCornerstone team, led by Aiden Cleghorn and Brian Rossi, we developed a comprehensive plan to address our underutilized real estate. The execution of this plan, guided by their expertise and dedication, has allowed us to wipe out almost all of our debt and focus on what we do best, media operations, serving our communities with quality journalism and growing advertising. I would highly recommend setting up a call with BellCornerstone.”

Lakway Publishers, Inc
Michael Fishman
President
BellCornerstone has been a wonderful partner in helping right-size our business. Their experience working with others in the industry has provided a unique perspective in our strategic initiatives. Their attention to detail and sincere concern have been paramount.

Pharos
Kevin Pickhardt
CEO
“The level of commitment that was made to create this unique technology campus experience, combined with a focus on employee wellness and community sustainability, is the perfect fit for Pharos as we further our development as a benefit corporation and solidify our foundation for growth.”

Rust Communications
Jon K. Rust
President
“We’ve ‘right-sized’ several of our operations into smaller buildings and sold old press plants. BellCornerstone has been a pleasure to work with: straightforward, responsive, creative and successful. We’ve worked with other firms, but the BellCornerstone team is the absolute best in keeping us up to date on all aspects of the process. They’re also fun to work with!”


