Verizon

Verizon is a large U.S. telecommunications provider that focuses on wireless service, home and business internet, and enterprise connectivity for customers across the country. Today the company’s core business centers on its mobile network, 5G and 4G LTE service, fixed wireless home internet, and fiber-based Fios offerings in select markets, along with networking and technology solutions for business and public-sector clients.

The company traces its roots to the breakup of the Bell System and was formally created on June 30, 2000, through the merger of Bell Atlantic and GTE. The combined business adopted the Verizon name and spent its early years integrating regional phone and network assets into a national platform. A major milestone came in 2006 with the acquisition of MCI, which expanded Verizon’s reach in long-distance and enterprise services and helped establish it as a significant provider for global business customers.

Over the past decade, Verizon has poured capital into wireless spectrum and network infrastructure, first to build out nationwide LTE and then to launch and scale 5G. The company briefly moved into digital media with purchases of AOL in 2015 and Yahoo’s core internet assets in 2017, later packaged as Verizon Media, before selling a majority stake in 2021 and returning its focus to connectivity. In the last five years, that refocus has meant concentrating on 5G mobility, fixed wireless home internet, and advanced enterprise networks, while simplifying the portfolio around these core services.

As of October 2024, Verizon supports more than 6,400 branded retail locations in the United States when including both company-operated stores and independently owned Verizon Authorized Retailers. These stores are typically placed in visible, high-traffic trade areas and function as service hubs where customers upgrade devices, add lines, troubleshoot issues, and learn about 5G phones, home internet equipment, and related services. The company has been shifting its physical footprint toward smaller, more efficient formats that fit neighborhood centers, urban storefronts, and active suburban corridors, while trimming overlapping or underperforming locations.

This approach is closely tied to Verizon’s 5G Ultra Wideband rollout. The company is investing in coverage in major metropolitan areas, high-growth suburban corridors, and select rural markets targeted for fixed wireless home internet. In practice, that means Verizon is opening and repositioning stores in areas where its network is strongest and customer demand for 5G devices and home internet is growing. At the same time, it continues to rationalize older wireline facilities and adapt its retail mix to support both in-store sales and omnichannel service.

Verizon remains a large employer and a significant U.S. corporate tenant. Its 2023 filings report about 105,400 employees and approximately $134.0 billion in total operating revenues, and the company is headquartered on Sixth Avenue in Midtown Manhattan. For property owners and developers, Verizon brings a widely recognized brand, an investment-grade credit profile, and an ongoing need for well-located, right-sized stores along with supporting network infrastructure such as equipment locations and small-cell placements. This combination of national scale, evolving store concepts, and continued investment in 5G and fixed wireless keeps Verizon on the leasing radar in shopping centers, mixed-use projects, business districts, and select rural and suburban markets.