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Both big downtown buildings in Tampa passed to Frontier when CTF was acquired from VZ. Then IBEW raided its members pension fund to buy one of them last year. Wow what a great investment! What could ever go wrong? Just think about that! The union leases back to the company that won’t even negotiate with them for a new contract right now.
Frontier Communications Corp. has transferred ownership of an office building in downtown Tampa to its pension fund.
Sept 18, 2018 - The FTR pension fund paid $29.3 million for the 298,465-square-foot office building at 610 N. Morgan St. in a deal that closed Sept. 14, according to Hillsborough County property records.
A spokesman for the company said Frontier is the single tenant in the building on a long-term lease with multiple renewal options.
"No operational changes, no change in population," Bob Elek, a Frontier spokesman, wrote in an email. "[It's] business as usual."
Verizon use to own the building so I'm sure when Frontier purchased Florida it included the building.
Does FTR own the building now, or they lease it?
Cellphone tower leasebacks are one thing... this is an act of desperation to make looming debt payments. Keep drinking that Frontier koolaid! Keep telling yourself that it’s completely normal to sell the main flagship building for the entire state. You know the one where the VP’s are trying to move to and take over.
I know.. every time I’ve heard someone mention a “coach” on here it’s been “my coach told me this”, my coach told me that”. Y’all coach don’t know sh*t.
Who the hell are these “coaches”? Sounds like they want y’all to call managers/supervisors that so that they can sound more endearing or something. is this a call center thing? Either way it’s whack.
verizon did the same thing. sell off properties and lease back
Its probably cheaper for ftr to sell the building and rent from the new owners. This is not necessarily a bad thing. Lower overhead.
Listing ID: 17123796 Date Created: 9/6/2019 Last Updated: 9/11/2019
610 Zack Street is a 238,580 square foot 10-story office and data center building located within a highly desirable opportunity zone in Tampa CBD. The facility is partially
leased to Frontier Communications Corporation (NASDAQ: FTR) and is being sold on an “as-is” basis.
Upon closing of the transaction, Frontier Communications intends to occupy approximately 45,330 SF of the building through a lease negotiated with the buyer for an extended-term. The remaining 193,250 SF will be available for the new owner to leverage within the market, providing an ideal value-add investment opportunity with a stream of income from a Fortune 500 Tenant.
I know for a fact that Frontier is selling the building on Zack St in Tampa and they are moving us across the street.
No these were potentional buyers for a building in Tampa that has 10 floors. The upper level mgmt meetings in this same building ended yesterday.
Bring them On !!,,Florida has always made money,,,just not sure who would buy,we've got great fios Fiber network,but we also have a lot of c-appy copper,and last I heard over 50 wet cables as air pressure being used for I/R.We all got excited in 2016 for a change,and Boy did we get one. The wind was taken out of our sails pretty quickly and instead of a wind,Now we hear a s—ing noise.
back to rumor,,it's probably just VP's and Suits in town for meetings with local mngrs. on productivity
This is YUUUGE!!