AT&T Sells headquarters
AT&T has agreed to sell its Basking Ridge, N.J., headquarters to drug-maker Pharmacia for $200 million.
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Included in the sale are roughly 1.3 million square feet of office space and the AT&T Learning Center, a conference facility complete with 171 rooms for overnight stays. The companies expect the transaction to be completed in July, but as part of the deal, AT&T will remain at the location until November of this year.
The sale is intended to lower the company’s costs by forcing consolidation of offices. New Jersey will remain the home of AT&T.
--Toby Weber, Staff Writer
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© 2012 Penton Media Inc.
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