Business is fluid. Strategies change.
As large corporations adjust to new markets and opportunities, one constant tell remains permitting.
Take, for example, Verizon’s September announcement to acquire Frontier Communications for $20 billion, bringing the nation’s largest pure-play fiber internet provider under Verizon’s umbrella.
According to a press release, the deal expands Verizon’s fiber footprint and accelerates the company’s ability to deliver both mobile and broadband services to clients. It also expands Verizon’s innovation projects such as artificial intelligence and Internet of Things.
To insiders, the move appears odd because Verizon sold many of these properties to Frontier in 2009 during a divesting process when they bought Alltel’s wireless and wireline properties.
Now, Verizon is buying them back. This is the ebb and flow of changing strategy.
Combined with a recent $3.3 billion deal to obtain exclusive rights to Vertical Bridge’s more than 6,000 wireless communications towers across all 50 states, Verizon is positioning itself for something big. Maybe, the company is moving away from the technical side of wireless to focus more on landlines for home and business use.
An early tip into what Verizon is thinking will come when the company looks to update signage on local switching buildings, which require permits. Verizon’s landline side had been decommissioning these sights for the past two years.
Returning them to their original status includes the need for “internal tenant improvement of existing space permits” – sometimes called “white box.” It’s simply fitting the room or building back to its original condition.
For the past four years, Frontier had been upgrading its rural markets with new fiber lines – which was long overdue. This has been a boon for rural clients as many move from landline to wireless for internet access.
Yes, as remarkable as it may seem to urban dwellers, the U.S. Chamber of Commerce reports that more than a quarter of U.S. adults - 68.9 million people - still rely on landline phones.
And this is not all tied to personal finances. More than 40% of U.S. homes along the eastern seaboard are holding onto their landlines, areas primarily made up of residents who could easily afford wireless.
If Verizon starts to focus more on wireline versus wireless, this will require permitting for wireline locations for building, mechanical and electrical, along with signage.
The Vertical Bridge deal includes a 10-year stipulation, so that would seem to be the timeline, though there are options in place for up to 50 years. Verizon likely only moves on lengthening the agreement alongside profits.
For more information or to stay up-to-date with the latest in commercial construction permitting and trends, visit our blog.
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