Like The Herald Business Journal on Facebook!
THE HERALD BUSINESS JOURNAL    EVERETT, WASHINGTON

JULY 9, 2014 Search 
Aerospace

Financial

Health Care

Real Estate

Technology


Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com


Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com


Site address:
1800 41st Street, S-300,
Everett, WA 98203


Mailing address:
Box 930
Everett, WA 98206




Jones Lang LaSalle 
(click to enlarge)
Frontier Communications' regional headquarters building in Everett.

Sign up for
HeraldBizNet newsletter
Business calendar  
Jim Davis, Editor
jdavis@heraldnet.com
Published: Monday, November 12, 2012

Frontier sells building, becomes a tenant

EVERETT -- Frontier Communications, a major provider in Snohomish County of telephone, Internet and television service, has sold its regional headquarters building but is leasing back about half the space.

The buyer is 1800 41st Street LLC, a Delaware corporation newly registered in Washington and named for the address of twin office buildings, which have been a regional telecommunications office since they were built in the 1980s.

The terms of the deal were not disclosed, but the property, near I-5 and Evergreen Cemetery, has a county-assessed value of about $54.7 million.

Jones Lang LaSalle, a national commercial real estate firm which has a Seattle office, represented Frontier and will lease 165,000 square feet that comprise one of two towers to Frontier and the other tower, of 125,000 square feet, to other tenants.

"We are extremely pleased to invest in this asset, and look forward to acquiring other quality properties here in the Seattle area," said Alex Sassoon, one of the buyer's partners, in a written statement issued by Jones Lang LaSalle. Sassoon was not further identified in the news release.

The buildings were built for GTE in 1981 when GTE was the Everett area's primary telephone provider. Verizon later acquired GTE and in 2010 sold its landline assets to Frontier.

Not surprisingly, the complex "has a robust telecom connectivity and redundant emergency building systems," Jones Lang LaSalle said.