Verizon has put six copper Central Offices in Massachusetts up for sale on a sale-leaseback basis.
[Update: This piece has been updated from five]
51 Chestnut Street in Duxbury, 1212 Mammoth Road in Dracut, 1139 Route 6A in Dennis, 630 Washington Street in Whitman, 580 State Road in Chilmark, and 79 Main Street in Northfield are all being listed by Newmark on Crexi as up for sale.
All six buildings are currently occupied by Verizon, which uses them as telecoms facilities serving its copper network.
Five of the listings do not include a price, but all are being offered on a sale-leaseback basis with Verizon.
Terms of the leaseback for most of the sites were not shared. The Northfield facility, however, is being listed for $180,000, with Verizon set to lease the site until the end of 2029, paying $14,000 in annual rent.
The listings describe the properties as “well-positioned” and “compelling opportunities” for potential investors.
The leaseback to Verizon “provides stability and long-term appeal for investors,” according to Newmark, “giving investors dependable cash flow and added confidence in the asset’s near-term performance.”
Verizon, like many other incumbent local exchange carriers (ILECs) across the US and other incumbent telcos globally, is in the process of shutting down its legacy copper networks.
As part of the decommissioning of these networks, thousands of Central Offices (aka telephone exchanges), once critical to providing services over copper, are being shut down in droves. As a result, many telecoms firms are looking to sell off the increasingly vacant buildings, which are not needed to maintain the more modern fiber networks.
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