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.

More in Herald Business Journal

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

In space capsules today, little room but big improvement

Boeing and SpaceX are relying on a tried-and-true design as they each develop new spacecraft.

First Boeing KC-46 delivery to Air Force slides into 2018

Certification milestones have been missed, and problems have emerged in flight test, a source says.

Newest must-try eatery: 85°C Bakery Cafe in Lynnwood

The popular bakery, part of a Taiwan-based chain, is already drawing out-the-door crowds.

Snohomish County tax liens

Tax liens are gathered from online public records filed with the Snohomish… Continue reading

Trudeau: Canada could stop dealing with Boeing over dispute

Boeing had petitioned the U.S. to investigate government subsidies of Bombardier’s CSeries aircraft.

Toys ‘R’ Us files for bankruptcy but keeps stores open

Retailers of all kinds are struggling. Toys ‘R’ Us is among at least 18 other bankruptcies this year.

Marysville-Arlington fiber-optic link planned by Comcast

The high-speed internet line, to be ready next year, is seen as a boost for business development.

‘Cheese that was grass 24 hours ago’ wins a farm accolades

Ferndale Farmstead specializes in authentic Italian cheeses — made with with American milk.

Most Read