SOURCE: Amerimar Enterprises
KANSAS CITY, MO--(Marketwire - Oct 23, 2012) - Amerimar Enterprises announces it has acquired 1102 Grand Avenue, a fiber-rich building located in Downtown Kansas City. With many of the building's occupants specializing in telecommunications, Amerimar Enterprises is partnering with telecom industry veteran Hunter Newby to own and operate the Property. Notably, Kansas City has recently flourished with fiber builds and network development; this is due, in a large part, to the willingness and encouragement of the City and its IT-savvy community to foster and promote this activity with the intent to further increase the area's business and economic opportunities.
"1102 Grand fits squarely within Amerimar's strategy to acquire properties with stable cash flow and the opportunity to add value over time through infrastructure improvements," states Jerry Marshall, President and Chief Executive Officer of Amerimar. "1102 is a natural fit for the Amerimar platform, and we're thrilled to be working with Hunter Newby on yet another telecom property."
The 26-story, 194,000-square-foot property was originally developed in 1931 as an office building. The property has since been redeveloped into the most fiber-dense, network-neutral facility in the Kansas City Metro area and is one of the fastest growing telecommunication hubs in the Midwest. The building serves as a major hub for data and Internet traffic in the region by providing the necessary data center infrastructure for carriers, service providers, and enterprise customers to interconnect with one another reliably and cost effectively. The building's location is of particular interest to telecom businesses, with immediate access to the Axon ring (the fiber optic loop that connects the Johnson County area of the Kansas City Metro with Downtown Kansas City). The building also provides highly reliable data center operations with its robust power and HVAC infrastructure.
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.