FOR IMMEDIATE RELEASE
NEW YORK, Sept. 16, 2002 T-Rex Capital announced today that it has joined with developer Peter Berns to create a “Meet-Me” Room at a T-Rex telecommunications “carrier hotel” in Cleveland. The Meet Me Room will be located in the T-Rex Technology Center, Rockwell Avenue, Cleveland.
This four-building, 500,000 square foot complex currently houses several telecommunications carriers and related businesses.
Carrier hotels provide space in a single building where telecommunications companies can install network equipment, facilitate network interconnections, and take advantage of lower cost back-up power, security and similar services. Major users of carrier hotels are Internet Service Providers (ISPs), Competitive Local Exchange Companies (CLECs), cable companies, e-commerce companies and fiber optic network providers.
“Meet Me Rooms,” the telecommunications equivalent to a railroad switch yard, are typically located inside carrier hotels. They allow telecommunications carriers and others to easily interconnect their networks.
Berns, a pioneer in creation of Meet Me Rooms nationwide, will operate the facility.
Thomas M. Mulroy, T-Rex Chief Executive Officer, said the T-Rex “Meet Me Room” will provide a means for telecommunications carriers in Cleveland to interconnect without a significant capital investment.
“We already are negotiating with several companies interested in using our Meet Me Room — current tenants of our Cleveland property as well as others,” Mulroy said. “Clearly, this facility will enhance the overall value of our Cleveland property in addition to being an extremely successful venture on its own.”
T-Rex Capital, LLC has invested in more than $600 million worth of commercial real estate. The company is headquartered at 747 Third Avenue, 24th Floor, New York, New York 10017, and has regional offices in Washington, D.C. and Boca Raton, Fla. T-Rex and its affiliates have been directly involved with more than 6.5 million square feet of space nationwide, including its signature property, a 1.8 million square-foot facility at Boca Raton, Fla.
Additional Information:
Michael J. London
(203) 261-1549