|[November 26, 2012]
American Tower Acquires Communications Site at the John Hancock Center, Benefitting Broadcasters and Wireless Service Providers in the Greater-Chicago Area
BOSTON --(Business Wire)--
American Tower (News - Alert) Corporation (NYSE: AMT) announced today the acquisition
of the 93rd and 97th floors and the rooftop of the John Hancock Center
in Chicago, IL and the rights to the existing telecommunications leases
associated with the property.
The acquisition of the physical space, along with the existing leases,
followed the vertical subdivision of the John Hancock Center, the
fourth-tallest building in Chicago and the sixth-tallest in the United
States. This transaction allows American Tower to make a prominent
entrance into the Chicago-area broadcast market, while augmenting its
rooftop portfolio in the region. The agreement includes more than 34,000
square feet of space for broadcast and telecommunications equipment, the
rooftop and two broadcast masts.
"We re pleased to be able to add the John Hancock Center to our
portfolio of communications sites," said Steven Marshall, Executive Vice
President and President of American Tower's U.S. Tower division. "Our
experience in supporting the broadcast and wireless industries makes us
a prime partner for both existing as well as new tenants at the
property. American Tower continues to pursue opportunities to grow our
portfolio through the acquisition and development of rooftop assets
suitable for assisting our tenants in optimizing their networks."
American Tower will begin marketing the property to both broadcast and
wireless tenants, given the site's extensive capacity for collocation.
The space is ready for collocation and installation and features
ready-to-build infrastructure, multiple fiber connections and two
megawatts of on-site backup power.
About American Tower
American Tower is a leading independent global owner, operator and
developer of wireless communications sites. American Tower currently
owns and operates over 50,000 communications sites in the United States,
Brazil, Chile, Colombia, Ghana, India, Mexico, Peru, South Africa and
Uganda. For more information about American Tower, please visit www.americantower.com.
[ Back To Financial Technology's Homepage ]