As reported by GlobeSt.com, the vacant former AT&T campus here was in play as a possible site, and that's apparently where the consolidation will happen. According to a published report, Verizon has agreed to buy the sprawling property from Pfizer Inc., its current owner, for $125 million.

A spokesman for Verizon declined to comment. A Pfizer spokesman would only say, "we're still on the market." However, according to a source with knowledge of the negotiations, a sale contract could be signed as early as today.

The campus, which encompasses nearly 2.6 million sf in 10 interconnected buildings on 140 acres, was built in the mid-'70s. Forced by market conditions to drastically downsize, AT&T sold it to Pharmacia three years ago and consolidated its headquarters at its smaller, nearby Bedminster, NJ location. AT&T itself, of course, is in the process of being acquired by SBC Communications, which is expected to keep the AT&T operations in Bedminster.