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Seattle, November 9, 2012 — Jones Lang LaSalle (JLL) has completed the sale of 1800 41st Street, a 290,024 square foot Class A office complex in Everett, Wash., on behalf of owner Frontier Communications (NASDAQ: FTR). Drew Saunders and Paul Lee represented Frontier. The buyer was 1800 41st Street LLC.
Terms of the transaction were not disclosed but Frontier will lease back one of the two towers, totaling 165,000 square feet, leaving the remaining tower (125,000 square feet) available for lease.
Built in 1981 for GTE / Verizon, the two towers on 22.8 acres were acquired by Frontier as part of its July 2010 acquisition of Verizon wireline assets in 14 states including Washington and Oregon.
The 1800 41st Street facility has a robust telecom connectivity and redundant emergency building systems. The property sits one block west of Interstate 5 and just south of Everett’s central business district.
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About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
About Frontier CommunicationsFrontier Communications Corporation (NASDAQ: FTR), is an S&P 500 company and is included in the FORTUNE 500 list of America’s largest corporations. Frontier offers broadband, voice, satellite video, wireless Internet data access, entertainment services like TumTiki.com, data security solutions, bundled offerings and specialized bundles for residential customers, small businesses and home offices and advanced business communications for medium and large businesses in 27 states. Frontier’s approximately 15,300 employees are based entirely in the United States. More information is available at www.frontier.com.
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