Verizon’s massive Ashburn campus, the former home of MCI/Worldcom, has been sold to a joint venture for $212.5 million, according to information provided by the seller’s agent.
The 130-acre Loudoun County Parkway campus contains 1.9 million square feet of office and service uses in 12 buildings spanning more than a third of a mile. The buyer, a partnership of American Real Estate Partners and Davidson Kempner Capital Management, has agreed to lease the campus back to Verizon. The length of the leaseback is unknown.
In 2012, Verizon intern Andrew Glass posted a story on the company’s website about the campus, noting it processes services for customers nationwide, tests FiOS devices and maintains a large data center operation. At the time, Glass wrote, Verizon employed roughly 4,200 people there. In fiscal year 2015, according to Loudoun records, the number had dropped below 3,500.
Verizon acquired MCI in 2006, four years after the communications giant (then known as Worldcom) filed the largest bankruptcy case in U.S. history.
Rick Eckhard and Curtis Sano of Holland & Knight LLP represented Verizon in the campus sale.
