Property Types Office
Icahn Nabs AT&T's Dallas HQ in Sale-Leaseback
Aug 20, 2008
By: Tonie Auer, Southwest Correspondent

Transferring its headquarters from San Antonio to Dallas, telecom giant AT&T Inc. has moved into a 37-story high-rise and sold the building in a sale-leaseback deal to Icahn Enterprises for an undisclosed amount.

The new headquarters (pictured) had been owned by Southwestern Bell, a wholly owned subsidiary of AT&T. The 1 million-square-foot building was originally constructed in 1982 and was acquired by Southwestern Bell purchased the building in 1985.

Icahn Enterprises representatives declined comment on the deal, but an AT&T spokesperson confirmed the sale to Icahn, telling CPN, "This is a sale lease-back, which is very common for us. We've done it in St. Louis, Cleveland and Atlanta... we prefer to invest capital in assets with better growth opportunities."

About 700 hundred AT&T employees have already moved to the Dallas building. When the move is completed, AT&T will have about 14,400 workers in the Dallas area, making it the area’s second largest company.

Moving to Dallas puts AT&T's corporate headquarters near many of its key technology suppliers and other telecom companies that have major operations in the area, such as Alcatel-Lucent, Cisco, Ericsson, Nokia, Nortel and Samsung.

AT&T Inc. is the largest communications holding company in the world by revenue. The company's Telecom Operations group, which serves residential and regional business customers in 22 states, will remain in San Antonio.

Icahn Enterprises L.P., formerly American Real Estate Partners L.P., is a diversified holding company engaged in a variety of businesses including real estate.

 
Recent Office Headlines
Mack-Cali Taps CBRE as Leasing Agent for Manhattan’s 125 Broad St.
Jan. 07, 2009
CB Richard Ellis has been selected by Mack-Cali Realty Corp. as the exclusive agent to lease a portion of its office holdings at 125 Broad St. in New York City.
Cushman Report: Even Manhattan Humbled in 2008 
Jan. 06, 2009
After a steep decline in office rents and leasing activity at the end of 2008, many owners are attempting to lure tenants with aggressive deals, according to Cushman & Wakefield Inc.’s year-end report on the Manhattan office market.
The News: Deliveries, Shrinking Labor Market Will Swell Vacancy
Jan. 06, 2009
Developers are slated to deliver a significant amount of office space in 2009, just as the economy paints a continuing painful employment picture. Those factors will combine to increase the nationwide office vacancy rate, according to Grubb & Ellis Co.’s Global Real Estate Forecast.
Markets Start 2009 With Upward Bump
Jan. 05, 2009
Instead of a lackluster lull after the New Year's holiday, investors decided to buy equities on Friday, driving the Dow Jones index up 258 points, or nearly 3 percent. The S&P 500 and Nasdaq were up even more, in terms of percentage: 3.16 percent and 3.5 percent respectively. GM, which recently won a short financial reprieve, led the way by gaining more than 14 percent, though that represented only 45 cents a share.
Atlanta Office Market Survives 2008 with Positive Absorption
Jan. 05, 2009
Despite the poor fourth quarter results and bleak economic news, Atlanta’s office market ended 2008 with positive absorption of 391,300 square feet--but that's down more than 2.4 million square feet from the 2.9 million absorbed in 2007, according to figures from Atlanta-based Richard Bowers & Co.
 
Select Coverage By City:

?CPN Executive Outlook? A roundtable discussion on market strategies with John C. Cushman III, Chairman of Cushman & Wakefield, Inc., Gordon DuGan, President and CEO of W. P. Carey & Co., and Mark Rauenhorst, Chairman and CEO of Opus Group.; CPN; Cushman & Wakefield; Gordon DuGan; John C. Cushman III; Mark Rauenhorst; Opus Group; W. P. Carey & Co.; Eugene Gilligan, Senior Editor for Commercial Property News interviews Bob Bach, National Director, Market Analysis Grubb & Ellis Company at Multi Housing World.; Bob Bach; Commercial Property News; Eugene Gilligan; MHN; Multi housing news; multi housing world; hompage
 

Pending Home Sales, Factory Orders Dip
January 07, 2009
By Dees Stribling, Contributing Editor-- It isn't clear that the days of yo-yoing equity markets have gone away--just wait until the next international shock or surprise bankruptcy--but for the moment the Dow Jones index seems to have mellowed out. It...

REal Talk with Adam Perrotta-Tuesday
January 06, 2009
Add Macquarie and CNL Financial to the list of firms looking to capitalize on the struggling state of the investment market. The duo's just-announced $1.5 billion global REIT will likely find some pretty good bargains to be had from sellers...

Construction Industry Faces Hard 2009
January 06, 2009
By Dees Stribling, Contributing Editor-- The equity markets dropped considerably Monday morning, but then yo-yoed around for the rest of the day--small fluctuations, really--and ended up slightly down, for the first time in four trading sessions and the first time...

REal Talk with Adam Perrotta-Monday
January 05, 2009
As the new year dawns, there is much to suggest that the hangover of 2008 will be sticking around for some time to come. Troubling financial and economic reports continue to haunt the headlines, the housing market remains in the...

Markets Start 2009 With Upward Bump
January 05, 2009
By Dees Stribling, Contributing Editor-- Instead of a lackluster lull after the New Year' s holiday, investors decided to buy equities on Friday, driving the Dow Jones index up 258 points, or nearly 3 percent. The S&P 500 and Nasdaq...

Management Matters with Mike Myatt: The Next Domino to Fall
December 04, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --The next domino in the economic downturn is already starting to fall. The more layers of the onion we peel back on the chaos in the capital markets, the worse the news seems...

Management Matters with Mike Myatt; Web 3.0
November 20, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As quickly as Web 2.0 arrived, it is being overcome by the next generation of digital applications and toolsets. Moreover, the need for broader understanding as to how to implement a more sophisticated...

Management Matters with Mike Myatt: Teach Them to Fish
November 14, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Do you feed your employees, or do you teach them how to fish? Do you like to swoop in and save the day? Do you see yourself as the white knight that can...

Management Matters with Mike Myatt: Good Employees Are Not Expendable
November 07, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Good employees are not expendable. As a CEO running a company during tough economic times, if your strategy to survive the economic downturn is to implement a slash and burn approach to cost...

Management Matters with Mike Myatt: Surviving the Economic Downturn
October 17, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --As odd as it may sound, if you want to survive the economic downturn, increase your marketing expenditures. If you're the short-sighted CEO who cuts back on marketing, branding, and advertising budgets in...