ST. LOUIS (AP) — The St. Louis Post-Dispatch plans to move out of its downtown building and into a smaller office building.

The newspaper reported Monday that it has signed a letter of intent to lease space in a three-story downtown building for $2 million from StarLake Holdings.

The Post-Dispatch moved to its current six-story location in 1960.

Publisher Ray Farris said the move gives the newspaper an opportunity to improve the work environment and design the new space for its needs.

The announcement comes a few months after the newspaper sold its headquarters building at 900 N. Tucker to StarLake Holdings.