SOURCE: Jamestown Properties; Amerimar Enterprises; Hunter Newby
NEW YORK, NY--(Marketwire - Oct 22, 2012) - Jamestown Properties, in partnership with Amerimar Enterprises, Inc. and Hunter Newby, announce they have commenced development of the first phase of their new carrier-neutral core interconnection facility at 325 Hudson Street, a 10-story, 240,000-square-foot telecom building located in New York City's Hudson Square area. The building has direct access to transatlantic cables and major metro and regional fiber providers.
The first phase of the development will include cage and cabinet spaces as well as a large Meet Me Area ("MMA") where customers will have the opportunity to make physical interconnections with one another.
"With New York City's rising demand for connectivity driven by Internet services and application development, Jamestown is proud to draw on the legacy of innovation in this space that began with our investments at 111 8th Avenue and Chelsea Market," states Michael Phillips, COO of Jamestown. "With our partners Amerimar and Hunter Newby, experts in technology-oriented real estate and telecom, we are excited to offer a state-of-the-art new product to our customers at a great value."
A former industrial building, 325 Hudson was redeveloped in 1998 into a telecommunications center and acquired by the partnership earlier this year. Located in New York City's prime telecom center with immediate connectivity to transatlantic cables and the fiber-dense Hudson Street corridor, the building offers critical features, such as heavy floor loading capacity, 12-foot ceilings, as well as robust HVAC, power, and back-up power supply.
The project is well timed, as the New York and New Jersey Metro markets are experiencing a need for carrier-neutral connectivity options. With 325 Hudson Street and the building's Meet Me Room under the same ownership and management with a commitment to no monthly recurring cross connect fees, it will provide a reliable, stable and long-term neutral environment for global network operators to thrive in New York City. "The initial response from the carrier community has been overwhelmingly positive and we look forward to continuing to sign up new customers as we forge ahead to a Spring 2013 completion of the first phase of our expanded Meet Me Room," states Jerry Marshall, President and CEO of Amerimar.
About Jamestown Properties
Founded in 1983 with headquarters in Atlanta, Ga. and Cologne, Germany and offices in New York City, San Francisco, Ca. and Washington, D.C., Jamestown is a leader in acquisitions and value added management. Over 29 years, Jamestown has generated approximately $8 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth. For more information, visit www.jamestownproperties.com.
About Amerimar Enterprises, Inc.:
Amerimar Enterprises, Inc. is a real estate development, investment and management firm with offices in Philadelphia and New York. Amerimar is a recognized leader in the renovation and repositioning of office, hotel, retail, multi-family and mixed-use properties throughout the US and UK. Since 1993, Amerimar has acquired over 50 properties totaling approximately 10.5 million square feet of office, 870,000 square feet of retail, 3,200 hotel rooms and 2,600 residential units. 22 of those projects were either new development or substantial renovations. For more information on Amerimar, please visit www.amerimar.com
About Hunter Newby:
Hunter Newby is a communications network business and real estate investor and developer with a highly successful track record of creating value. He is recognized globally as a thought-leader in the industry. Mr. Newby has held a senior role in over $600 Million of transactions, served on several Advisory Boards, is a published author, public speaker and the recipient of numerous awards including being named to the Global Telecoms Business Top 40 Under 40 in 2010. For more information please visit www.hunternewby.com