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Monday November 9, 11:01 am Eastern Time
Company Press Release
U.S. RealTel, Inc. Announces Master Lease of Brandywine Realty Trust's Telecom Rights
Addition to Real Estate Portfolio Gives U.S. RealTel Major Presence in Mid-Atlantic
CHICAGO, Ill.--(BUSINESS WIRE)--Nov. 9, 1998--U.S. RealTel (NASDAQ: USRT - news), the nation's largest landlord of pre-leased telecommunications sites, announced it has entered into a master lease agreement with Brandywine Realty Trust (NYSE: BDN - news), bringing the total number of properties in the USRT Telecom Grid(tm) to more than 6,000.
The master lease gives U.S. RealTel the rights to market and sublease the telecommunication access and placement rights to Brandywine's portfolio to telecommunications companies who require access to buildings to provide competitive telecommunications services to their tenants or for placement of antennas.
Brandywine's portfolio includes 268 office and industrial properties containing an aggregate of approximately 18 million square feet.
''We are quite pleased to work with Brandywine,'' said Noah Glazov, vice president of site development at U.S. RealTel. ''This portfolio is attractive to telecommunications companies because of the strategic location of the properties and the large number of tenants in the buildings. In addition, the Brandywine portfolio brings a heightened presence in the Mid-Atlantic states to the USRT Telecom Grid,'' he added.
''Brandywine is one of the first REITs in the Mid-Atlantic region to enter into a master lease agreement. We are extremely excited about the opportunities it presents,'' said Gerard H. Sweeney, Brandywine's president and CEO. ''This lease agreement will serve as an additional long-term income source and offer another value-added service to our tenant base.''
''This agreement is another example of our active tenant services program and gives our tenants a distinct business advantage,'' said Barbara Yamarick, Brandywine's vice president of tenant services and property management. ''They will have access to the best technology at extremely competitive prices.''
About U.S. RealTel
U.S. RealTel is the nation's largest landlord of pre-leased telecommunication sites. Based in Chicago, U.S. RealTel has a portfolio of thousands of real estate properties throughout the United States comprising its USRT Telecom Grid(tm). Included in the USRT Telecom Grid are more than 30 million square feet of office space, 300 million square feet of retail shopping malls, 4.5 million square feet of industrial space, 16 million square feet of commercial strip center space and 300,000 apartment units.
Using its national network of more than 6,000 properties, U.S. RealTel offers significant time and cost savings to telecom companies looking to place new antennas or gain telecom access to buildings' tenants, while providing considerable additional ancillary income to property owners, such as REITs, pension funds, property funds, developers, banks, retail and chain stores, restaurant franchises, utilities and governments.
For more information, visit the U.S. RealTel website at: usrealtel.com
About Brandywine Realty Trust
Brandywine Realty Trust, with headquarters in Newtown Square and regional offices in Lawrenceville and Voorhees, N.J., Long Island, N.Y., Bucks County, King of Prussia and Reading, Pa., is one of the Mid-Atlantic region's largest full-service real estate companies with 268 commercial and industrial properties containing more than 18.4 million rentable square feet.
For more information, visit the Brandywine website at brandywinerealty.com
The statements contained in this news release that are forward looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to competitive and other market factors, customer purchasing behavior, general economic conditions, technological advances, real estate trends, and other facets of the Company's business operations. Further information may be obtained at the Company's Internet site: usrealtel.com.
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Contact:
U.S. RealTel, Chicago
Bud Blinick, 312/920-1500
Media Contact:
Citigate DGPR for U.S. RealTel
Melanie Abramowski, 312/372-6039
or
Brandywine
Analyst/Investor Contacts:
Gerard H. Sweeney
or Mark Kripke, 610/325-5600
Media Contact:
Tattar Cutler--LD&B PR for Brandywine
Karen Cutler, 215/957-0300 |
