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

Exec director of Future of Flight in Mukilteo stepping down

A former board president will temporarily lead Snohomish County’s most popular tourism attraction.

Seafood producer Keyport moves corporate HQ to Edmonds

The family business sees the city as business friendly — and able to accommodate expansion.

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.

Amazon opens store with no cashiers, lines or registers

The Seattle store allows shoppers to use a smartphone app to pay for items they want.

Trump hits solar panels, washing machines with tariffs

The administration cast the decisions as part of his pledge to put American companies and jobs first.

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.

Top CEOs take 4 days to earn a Bangladesh worker’s life pay

Oxfam has sought to put inequality at the heart of this week’s deliberations of the rich and powerful.

Most Read