Verizon Hidden Ridge sold in sale-leaseback transaction

​​​IRVING – Mesirow Realty Sale-Leaseback Inc. has purchased the $344 million, 1.2 million-sf Verizon Hidden Ridge campus in a sale-leaseback transaction with Verizon Communications.

Cushman & Wakefield represented Verizon Communications in the transaction, which included a transfer of property to Mesirow, along with a lease agreement for a new 20-year term. The lease provides Verizon with $20 million worth of tenant improvement costs.

The campus employs 2,800 full-time employees and is expected to increase to 3,500 by the end of the year. It serves as the south-central market headquarters for the telecommunications company.