Strategic Wireless Acquires NJ Telecom Easement
COSTA MESA, Calif.--(BUSINESS WIRE)--Dec 19, 2019--
Strategic Wireless Infrastructure Funds Management, Inc. (“ Strategic Wireless ”) continues to expand its wireless infrastructure portfolio with the acquisition of a rooftop easement that supports wireless telecommunications equipment.
Located in Paterson, NJ, the easement provides certain rights to the facilities of a retail strip center (including rooftop operating rights) that is leased to a top-tier wireless carrier under a long-term lease agreement. The company uses the rooftop as a strategic location to provide wireless coverage to its customers in the Paterson area.
Jerry Sullivan, CEO of Strategic Wireless, stated, “We are excited to continue to deploy capital into highly sought-after infrastructure assets that support critical, wireless telecommunications networks. We look forward to building additional lasting relationships with even more operators, developers and carriers as we continue to expand our telecom infrastructure portfolio.”
The rooftop has capacity to support up to three additional tenants, which management believes provides upside potential and value creation upon lease-up. With that, management expects to pursue additional tenants to help maximize occupancy on the rooftop.
About Strategic Wireless
Strategic Wirelessis an investment manager and capital partner focused on acquiring, building and managing telecom infrastructure assets that support mobile and internet connectivity. To help achieve its investment goals, Strategic Wireless establishes mutually beneficial partnerships with select independent operators and developers throughout the U.S. The company prides itself on aligning interests, providing transparency and offering fair pricing to ensure longstanding working relationships for years to come.
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CONTACT: Robert Bruce
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KEYWORD: CALIFORNIA NEW JERSEY UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE MOBILE/WIRELESS TECHNOLOGY CONSTRUCTION & PROPERTY FINANCE TELECOMMUNICATIONS PROFESSIONAL SERVICES NETWORKS INTERNET HARDWARE
SOURCE: Strategic Wireless Infrastructure Funds Management, Inc.
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PUB: 12/19/2019 04:45 PM/DISC: 12/19/2019 04:45 PM