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

Peoples, HomeStreet banks bump lowest salaries after tax cut

The banks with Snohomish County branches will raise minimum salaries for employees to $15 an hour.

Electroimpact cuts Mukilteo staff by 9 percent

“What we’re missing now is a monster anchor project,” the company’s VP said.

Exotic animals find compassionate care in Bothell (video)

At the Center for Bird and Exotic Animal Medicine, vets treat snakes, hedgehogs and even kangaroos.

How can you tell if you are getting good financial advice?

Assume that it’s still the same buyer-beware market that has always existed.

Amanda Strong (left) tries on an Angel of the Winds Arena hat as she and Courtney Brown hand out gift bags after the renaming ceremony Dec. 13 in Everett. The new name replaces the Xfinity name. (Andy Bronson / Her file)
Angel of the Winds to break ground on $60M casino expansion

“We think we’re on the cusp of becoming a major resort.”

In this Dec. 20, 2017, photo, a clerk reaches to a shelf to pick an item for a customer order at the Amazon Prime warehouse, in New York. (AP Photo/Mark Lennihan, File)
Amazon’s potential HQ2 sites leaves many cities disappointed

And yet, some municipal leaders are looking at the bright side of being rejected.

How do you retrieve an errant Boeing 737 from a muddy slope?

Turkish authorities used cranes to lift a plane that skidded off a runway.

Don’t take economic forecasts to the bank — or the casino

Air travel delays could spur a rebirth of passenger rail service.

Emirates orders 20 more Airbus A380 jumbos, saving program

The Dubai carrier also has options to buy 16 more. The program seems safe until 2029.

Most Read