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AT&T Continues to Convert Ownership to Tenancy. Is this a Trend?

January 28, 2020

Following the formation of WarnerMedia, AT&T is converting most of its real estate holdings into long term tenancy due to the acquisition of Time Warner, which still carries a $150M debt obligation. The biggest deal was a sale-leaseback deal with Related Cos. last year in New York for $2.2B. AT&T also sold its Dallas headquarters in 2018. Here are the remaining assets on the market:

  • 444 Michigan Ave. in Detroit, 560K SF
  • 111 North Fourth St. in Columbus, Ohio, 520K SF
  • 1365 Cass Ave. in Detroit, 425K SF
  • 3303 Weslayan St. in the Greenway Plaza development district of Houston, 403K SF
  • 635 Grant St. in Pittsburgh, 367K SF
  • 722/740 North Broadway St. in Milwaukee, 282K SF
  • 445 State St. in Detroit, 241K SF
  • 629 West Fifth St. in Winston-Salem, North Carolina, 218K SF
  • 9403 Queens Blvd. in the Rego Park neighborhood of Queens, 195K SF
  • 1444 Jericho Turnpike in Huntington, a town in Suffolk County on New York’s Long Island, 136K SF
  • 2400 South Westmoreland Road in Dallas, 89K SF
  • 36 South Fairview Ave. in the Chicago suburb of Park Ridge, Illinois, 85K SF
  • 6800 Harding Ave. in Miami Beach, 68K SF

Is this a trend that will continue throughout 2020 and beyond?

From the news desk of BisNow