World Trade Center gets wired for the future
Building Riser Access Management (BRAM), a wholly owned subsidiary of New York-based EurekaGGN, will install an advanced fiber-optic and telecommunications infrastructure at the World Trade Center in New York. EurekaGGN is a full-service integrated communications provider.
BRAM will provide a telecommunications infrastructure that will offer the more than 450 commercial tenants in the World Trade Center access to virtually unlimited broadband communications services. The service will provide a carrier-neutral environment, which means that each tenant can use any telecommunications service provider it chooses, and the BRAM service will be able to support it.
Tower One will house up to 750 miles of fiber lines. Wiring in Tower One is expected to be completed by the fall. Tower Two will be completed by December.
The 99-year lease on the World Trade Center recently was purchased for $3.22 billion by a joint venture between Silverstein Properties Inc., New York, and Westlake America Inc., Los Angeles. The seller was the Port Authority of New York and New Jersey.
FacilityPro reaches national agreement with Equity Office
FacilityPro, an Atlanta-based builder and operator of private procurement marketplaces for commercial real estate companies, has reached a national agreement with Equity Office Properties Trust, Chicago.
Equity Office will use FacilityPro's procurement marketplace to purchase maintenance, repair and operations (MRO) products. Equity also will integrate the FacilityPro solution with its accounting system to reduce manual data entry processes.
“We will be applying FacilityPro's solution with the ultimate goal of increasing efficiencies,” said Shobi Khan, vice president of business development for Equity. “We continue to look for ways to free our property staffs' time, so they can devote a greater portion of their days serving our customers.”
Equity Office's portfolio is made up of 380 buildings throughout the United States totaling 99 million sq. ft.
LoopNet launches FinanceNow with four lenders on board
The LoopLender division of San Francisco-based LoopNet has launched FinanceNow, a service that provides detailed financial term sheets and real-time loan rate information along with LoopNet's online commercial property listings.
“FinanceNow is a key point in the development of our company because it marks the true integration of LoopNet with LoopLender,” said John Gough, managing director of LoopLender. “This new service will speed up property sales as well as the time it takes to get financing in place.”
Four lenders have already signed on to the new project: Archon Financial, Dallas; ARCS Commercial Mortgage Co., Calabasas Hills, Calif.; CIT Small Business Lending Corp., Livingston, N.J.; and First Union Securities Inc., Richmond, Va.
LoopNet lists $91 billion worth of commercial real estate for sale and lease. LoopLender receives and processes $500 million in loan requests, which it passes on to its 40 lending partners. FinanceNow is free to brokers and borrowers, and derives its revenue from both up-front fees from financial institutions in exchange for the service and a commission on closed loans.
AvidXchange forms partnership with Hughes
AvidXchange, a Charlotte, N.C.-based provider of Web-based procurement and competitive bid management products and services, has formed a partnership with Hughes Supply Inc., Orlando, Fla., one of the largest diversified wholesale distributors of construction materials.
With the partnership, AvidXchange customers will be able to purchase items from Hughes Supply catalogs. The 73-year-old Hughes Supply, which has $485 million in inventory, carries a wide variety of products from various manufacturers, providing a one-stop shopping experience for construction, renovation and maintenance needs of commercial and residential properties. The company has more than 466 locations in 33 states and Mexico.
Reis launches subscriber edition Web-based service
Reis Inc., New York, has launched Reis SE, a Web-based source of detailed data and analysis of office, industrial, retail and multifamily properties in 82 markets across the United States.
According to the company, the Reis SE platform has unlimited access to presentation-quality PDF reports that detail historical, current and forecast data on rents, vacancies, expenses, landlord concessions, and supply and demand.
Johnson Controls introduces e-business portal solution
Johnson Controls Inc., Milwaukee, recently launched Bosmart, its e-business portal solution. Bosmart integrates portfolio management applications with communication and reporting tools to help corporate real estate teams work more collaboratively with outsourcing partners.
According to the company, by integrating applications into one screen, Bosmart gives the end user ready access to critical facility management data. Applications are tailored for the integral stakeholders, from the corporate real estate executive to the facility occupant.