Tuesday January 19, 9:04 am Eastern Time
Company Press Release
U.S. RealTel Announces Master Lease of the Rouse Company's Telecom Rights
Addition to Real Estate Portfolio Gives U.S. RealTel Increased Presence in Retail Shopping Center Market
CHICAGO--(BUSINESS WIRE)--Jan. 19, 1999--U.S. RealTel (NASDAQ:USRT - news), the nation's largest landlord of pre-leased telecommunications access sites, today announced a master lease agreement with The Rouse Company (NYSE:RSE - news), bringing the total number of properties in the USRT Telecom Grid™ to more than 6,600.
The master lease with The Rouse Company gives U.S. RealTel the right to market telecom access to 245 of Rouse's office, retail and mixed-use properties to telecommunications companies that seek antenna placements and provide telecom services for tenants of multi-tenant office buildings and regional malls. Rouse's buildings join the USRT Telecom Grid™, a network of sites that U.S. RealTel makes available to telecoms for sublease for a variety of uses, including an array of telecommunication services to building tenants as well as antenna placement for wireless telecommunication systems.
Through the USRT Telecom Grid™, U.S. RealTel helps building owners maximize the value of their properties by providing new sources of ancillary income. The Grid is a network of office, multifamily, retail, residential, governmental and industrial properties for which U.S. RealTel holds telecommunications access and antenna placement rights. By selecting sites from this grid, communications companies can save significant time and money in their infrastructure and service deployments.
''This is a very significant alliance for us,'' said Bud Blinick, senior vice president of site development at U.S. RealTel. ''The Rouse Company has one of the best portfolios of dominant, high quality retail shopping centers in the United States. In addition, they have a tremendous amount of office properties, which is quite an attractive mix to telecommunications companies.''
The Rouse Company owns and/or operates shopping centers encompassing 44 million square feet, more than 3 million square feet of mixed-use space and 12 million square feet of office/industrial space. The Rouse Company's portfolio includes: Faneuil Hall Marketplace in Boston, South Street Seaport in New York City, Harborplace in Baltimore, Bayside Marketplace in Miami, Arizona Center in Phoenix, Pioneer Place in Portland, and Westlake Center in Seattle.
''We are very pleased to have developed this relationship with U.S. RealTel in the telecom marketplace,'' said Anthony W. Deering, chairman of the board and chief executive officer for The Rouse Company. ''This partnership represents one of the many ways The Rouse Company is enhancing customer and tenant services, while also generating additional revenues.''
About U.S. RealTel
U.S. RealTel is the nation's largest landlord of pre-leased telecommunication access 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™. Included in the USRT Telecom Grid are more than 80 million square feet of office space, 400 million square feet of retail shopping malls, 4.5 million square feet of industrial space, 20 million square feet of commercial strip center space and 330,000 apartment units.
For more information, visit the U.S. RealTel website at: usrealtel.com
About The Rouse Company
Headquartered in Columbia, Md., The Rouse Company was founded in 1939, became a public company in 1956 (NYSE:RSE - news) and, on January 1, 1998, organized and began operations as a real estate investment trust (REIT). Through its numerous affiliates, the company operates more than 200 properties encompassing office, retail, research and development and industrial space in 25 states, the District of Columbia and Canada. The company is also the developer of the planned communities of Columbia, Md., and Summerlin, Nev.
For more information, visit The Rouse Company website at: therousecompany.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
Bud Blinick, 312/920-7403
or
Citigate DGPR
Melanie Abramowski, 312/372-6039
or
Rouse
Nancy Tucker, 410/992-6326 |
