Monday November 16, 9:07 am Eastern Time
Company Press Release
U.S. RealTel and Omnipoint Communications Sign Major Building Access Agreement
CHICAGO--(BUSINESS WIRE)--Nov. 16, 1998--U.S. RealTel, Inc. (NASDAQ: USRT - news), the nation's largest landlord of pre-leased telecommunications sites, and Omnipoint Communications (NASDAQ: OMPT - news), North America's premier digital wireless service provider, today announced a national agreement giving Omnipoint access to U.S. RealTel's portfolio of thousands of properties across the country.
The agreement specifically allows Omnipoint to place base stations and antennas on the properties in U.S. RealTel's portfolio, enabling the company to expand its current market reach.
''As the second major announcement of a telecom Master Sublease in less than a month, this supports the continued growth of U.S. RealTel's core antenna site leasing business,'' said Jordan E. Glazov, president of U.S. RealTel, Inc. ''The Master Sublease gives Omnipoint the benefit of signing only one contract to access our entire 6,000-site USRT Telecom Grid(tm). From this, they can select and access the number of appropriate sites in their target markets, with the payoff being faster market penetration.''
Chuck Johnston, Omnipoint chief operating officer, said: ''This agreement reflects our strategy to significantly speed our deployment process and bring advanced digital wireless services based on Global System for Mobile communications technology to market quickly and efficiently. Signing a Master Sublease with U.S. RealTel is a cost effective way for Omnipoint to maximize customer value by delivering more complete communications services across a wider geographic area.''
Founded in 1997, U.S. RealTel has amassed the nation's largest telecom real estate portfolio controlled by one landlord, with more than 6,000 properties in its portfolio.
Omnipoint will enlarge its digital communications network by installing discreet antennas on select commercial, industrial and residential properties in the U.S. RealTel portfolio.
About U.S. RealTel, Inc.
U.S. RealTel, Inc. is the nation's largest landlord of pre-leased telecommunications sites. Based in Chicago, U.S. RealTel has a portfolio of over 6,000 real estate properties throughout the United States comprising the USRT Telecom Grid. 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 this network of properties and its Master Sublease program, 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 chain stores, restaurant franchises, utilities and governments, including:
Equity Residential Properties Trust Urban Retail Properties Amli Management Company Glimcher Realty Trust Archstone Communities Trust Forest City Commercial Group Simon Property Group Chelsea GCA Banyan Strategic Realty Trust Chicago Title Insurance Company First Union Management, Inc. R&B Realty Group
For more information, visit the U.S. RealTel website at: usrealtel.com
About Omnipoint Communications
Omnipoint Communications is a subsidiary of Omnipoint Corporation. Founded in 1987, the parent company is a leader in commercializing Personal Communications Services (PCS). Omnipoint currently provides advanced wireless communications services in much of New York, New Jersey, Connecticut, Eastern Pennsylvania, Delaware, Massachusetts, New Hampshire, Rhode Island and Southern Florida; it intends to provide those services in additional areas. The company also develops technology and equipment for PCS and wireless local loop.
For more information, visit the Omnipoint website at: omnipoint.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 market factors, customer purchasing behavior, general economic conditions, technological advances, real estate trends, and other facets of the Company's business operations.
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Contact:
Omnipoint
John Grotland, 973/290-2453
or
U.S. RealTel
Charlie McNamee, 404/869-1130
or
Citigate DGPR
Julie Tauer, 312/372-6043 |
