American Tower 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 are 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.
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