Sprint and T-Mobile US will stay put until at least 2030 timeframe
With the Department of Justice recently giving Sprint and T-Mobile US the go ahead on a $26 billion merger, the companies are set to embark on a long-term network integration project, as well as internal evaluation of personnel resources. But, based on a previous comments, the combined company, to be called New T-Mobile and led by T-Mo CEO John Legere, will maintain large offices in Bellevue, Washington, and Overland Park, Kansas.
According to the Kansas City Star, Sprint on July 9 closed the sale of its 190-acre Overland Park headquarters to Occidental Management for $250.9 million. Sprint will continue to occupy the space for at least 10 years based on a lease agreement. According to the report, the sale price as well as the $3.67 per-square-foot rental rate are “well below market rate.”
Back in April, T-Mo’s campus, which was owned by a Canadian real estate firm, sold the property to Preylock Real Estate Holdings for $467.5 million. T-Mobile has said it will stay there through at least 2030 and is investing millions in a refresh of the space.
Legere, speaking last year after the merger was announced, gave a look at the future of the two locations: “Two great companies are coming together, and they have two fantastic headquarters locations, two amazing communities for people to work, two great labor forces and two great places to attract more talent. So it’s just a complete no-brainer that this company will be anchored around two major headquarters locations. The energy and the talent and the people there. And again, as we’ve gotten to know the two companies, certainly Seattle is known as a great place to live and work, you know, the headquarters of Sprint is a fantastic place that we see to attract talent, a place to live and so core to this company is going to be both locations anchored with the teams that are there. So I couldn’t be more emphatic about that.”
