Search
 

Verizon Ready to Buy Former AT&T Campus

BASKING RIDGE, NJ-The battle between Central New Jersey and Northern Virginia to grab the telecom giant's consolidated landline and wireless headquarters operations has apparently been won by the Garden State.

By Eric Peterson | Updated on March 22, 2005

BASKING RIDGE, NJ-Ever since Verizon announced last summer that it was planning to consolidate much of its Manhattan headquarters staff with Verizon Wireless’ headquarters operations, New Jersey and Virginia have been locked in a battle to grab the brass ring. Now, New Jersey has apparently won that battle.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.