A source close to the transaction tells GlobeSt.com that Verizon spent two years finding the right location. "They actually had the project teed up at one point in the past and for various reasons put it on hold," says the source. "When they came back to market, they had three different sites available and zeroed in on this site because of labor costs and an incentives package put together by local, regional and state government."

The owner of the one-story block building built in the early 1980s is Corporate Capital & Development. Negotiation for the lease and the multi-million incentive package was handled for the tenant by Daniel Rudd, a managing partner with Dallas, TX-based Mohr Partners. The owner represented itself. The value of the 10-year lease is not being released by the parties involved and was not otherwise immediately available.

Bedminster, NJ-based Verizon Wireless is a joint venture of Verizon Communications and Vodafone.