Jeff, some more news on my stock. I started a thread awhile ago, but I'm talking to myself.
Company Press Release
SOURCE: Simon Property Group, Inc.
Simon Forms National Alliance With Leading Telecom Access Rights Provider, U.S. RealTel
INDIANAPOLIS, Oct. 21 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG - news), the world's largest retail real estate investment trust, and U.S. RealTel, Inc. (Nasdaq: USRT - news), the nation's largest landlord of telecom access rights to the telecommunications industry, today announced the formation of a national alliance through which U.S. RealTel will negotiate and administer all telecommunication access rights for Simon properties.
This alliance enables Simon to lease portions of properties in their portfolio to U.S. RealTel who will then sign subleases with telecommunications providers. U.S. RealTel already has subleases in place or in process with most of the major telecom providers, enabling telecom providers to quickly select and acquire the access to the properties they want to service.
''Our alliance with the world's largest mall owner will enable us to solidify our position as the leading landlord of telecom access rights in the retail real estate industry,'' said Bud Blinick, senior vice president of U.S. RealTel. ''The telecom industry views Simon's portfolio of 241 properties as attractive and strategic properties for telecom providers, thereby enhancing our portfolio.''
Simon has established similar alliances this year as well, including a relationship with Browning Ferris Industries (BFI) to provide waste removal and construction support services.
''Our decision to form an alliance with U.S. RealTel is part of our continuing efforts to bring state-of-the-art technologies to our properties,'' said Tom Jenkins, Divisional Vice President of Simon Property Group. ''U.S. RealTel brings telecommunications expertise and income opportunities to our properties, thereby delivering an additional revenue source to the Company.''
U.S. RealTel is the nation's largest landlord of pre-leased telecommunications 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. Additional information is available on the Company's website at www.usrealtel.com.
Simon Property Group, Inc., headquartered in Indianapolis, Indiana, is a self-administered and self-managed real estate investment trust which, through its subsidiary partnerships, is engaged primarily in the ownership, development, management, leasing, acquisition and expansion of income- producing properties, primarily regional malls and community shopping centers. It currently owns or has an interest in 241 properties containing an aggregate of 165 million square feet of gross leasable area in 35 states. Together with its affiliated management company, Simon Property Group owns or manages approximately 180 million square feet of gross leasable area in retail and mixed-use properties. Additional Simon Property Group information is available on the Company's website at www.simon.com.
The U.S. RealTel 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 |
