An investor purchased the property at 1507 Greenfield St. in Wilmington, a full city block that could one day be redeveloped into a new use.
The seller was BellSouth Communications, now owned by AT&T, said Hansen Matthews of Maus, Warwick, Matthews & Co., who represented AT&T along with Matt Pufant of JLL.
The price was $690,000.
"This sale was one of hundreds of surplus facilities which they're [AT&T] selling around the country after their merger with Time Warner, now Spectrum, in the summer of 2018," Matthews said in an email. "The $85 billion merger created many surplus properties and this service/parts distribution center situated on 3 acres was one of those properties."
The buyer, 1507 Greenfield LLC, is leasing the property back to AT&T for the next three years, Matthews said.
Maus, Warwick, Matthews & Co. marketing materials for the property stated, "The main value here [is] in the land, one full 3-acre city block which includes the northwest corner of 16th & Greenfield Street intersection.
"The buyers may wish to continue to use this facility for office/distribution from a midtown location or they may wish to redevelop this site for restaurants & retail."
