Is VZ (Wireless/Communications) headquarters in NJ moving to Texas? Closer to Ericsson, Sprint, T-mobile, ATT where all the other vendors/network corps are located?
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It is moving to TX. Those saying otherwise are ignoring that there is more than enough room and it was built and updated for this. BR has been a bleed on cash. So has the lame hotel we tried to own.
Chortle.
hhahahah 20 year lease if you think that means anything you are crazy. I was in a building we spent 1 million on upgrade after signing a lease and 1 year later they shut us down and had to move. Dont drink that kool aide.
Company is too liberal to move to Texas- y'all have guns there (shudder)
The new offices in Irving are being built for an Oil company, not Verizon. Speculation was that Verizon HQ was moving to Irving was squashed 2 years ago when the project was announced. There are many good logical reasons to move to TX, like taxes, but too many execs have family and homes in NJ and would never move. It ain't happning. BR will be home to VZ for years to come.
Warren yea. Branchburg close. Guess again.
A 20 lease at BR doesn't mean anything, it's just another form of debt to be passed along to the wireline company when wireless splits off.
@1gok, summit?
We signed a 20 year lease on BR. It's not going anywhere, and Verizon is still investing HEAVILY in BR and 140 West.
What's actually true is a lot of the satellite locations nearby these hubs will be cut. Branchburg and soon Warren will be gone, 1095 lease will not be renewed.
Not sure where many of you have been the last few years but yes BR has been sold & leased back to VZ, with the plan of moving to Hidden Ridge "Irving, TX" (1) Taxes are much cheaper in TX "no State tax & low Fed Tax" (2) No unions in TX (3) Many employees out east are rooted there & will not move to TX "reduction of work force without layoff's"
Dallas and other places in Texas are building out like you wouldn't believe. When I saw that VZW building going up in Irving last year (or was it earlier this Year?) I knew something was up. Just didn't expect this. Beautiful building. Highways are cray the way the are build. Look like ski slopes and Texans cannot drive. Little moisture on the street and everyone in trouble.
Yes after they sell off wireline. New Jersey and New York are not business friendly states.
Moving to Texas doesn't make any sense. BR has been updated to accommodate many new employees to the point of busting at the seams. All corp decisions are supposed to be formed collaboratively in a single location. Key leaders have been moved from Irving to BR. Irving is supposed to be an IT CoE. I call Bullshot on this post.
So they defaced the property in Basking Ridge with the ugly generator and then the parking lot. Then, they make the inside like Chipotle and after all that, wireless may move to Texas. Great job!
Key Taxes. Depends on who is cheaper.
Yes VZW will be moving to Irving, Texas when the new Verizon office center is completed. Construction is well under way. Texas is the center of telecommunications in the US.
and Nokia and Samsung.