444 Michigan Ave. in Detroit, which houses AT&T.

AT&T is looking to monetize a substantial chunk of its office assets.

The telecommunications giant is in talks with multiple potential buyers for a 13-property portfolio of office buildings it owns and occupies across nine cities, CoStar reports. The properties, collectively dubbed by AT&T as the Central Office Portfolio, total about 3.6M SF and are being marketed for sale by JLL.

As part of the deal AT&T is offering, the company is committing to lease back 43% of the portfolio's total square footage as a way to guarantee a revenue stream for the next owner, a spokesperson told CoStar. AT&T would sign a 20-year lease for approximately 1.5M SF at $10.12 per SF in the first year, with 2.5% increases every year after.

The properties are as follow in descending order of size, as reported by CoStar:

444 Michigan Ave. in Detroit, 560K SF

111 North Fourth St. in Columbus, Ohio, 520K SF

1365 Cass Ave. in Detroit, 425K SF

3303 Weslayan St. in the Greenway Plaza development district of Houston, 403K SF

635 Grant St. in Pittsburgh, 367K SF

722/740 North Broadway St. in Milwaukee, 282K SF

445 State St. in Detroit, 241K SF

629 West Fifth St. in Winston-Salem, North Carolina, 218K SF

9403 Queens Blvd. in the Rego Park neighborhood of Queens, 195K SF

1444 Jericho Turnpike in Huntington, a town in Suffolk County on New York's Long Island, 136K SF

2400 South Westmoreland Road in Dallas, 89K SF

36 South Fairview Ave. in the Chicago suburb of Park Ridge, Illinois, 85K SF

6800 Harding Ave. in Miami Beach, 68K SF

AT&T has been selling off properties or converting ownership to tenancy across the country since its acquisition of Time Warner, for which it still carries a $150M debt obligation, CoStar reports.

Among the largest associated deals came from its newly created subsidiary, WarnerMedia, which completed a sale-leaseback deal with Related Cos. last year for its office condo at 30 Hudson Yards in New York for $2.2B. AT&T also sold its own headquarters in Dallas in 2018, and has been consolidating office space in areas like Atlanta.