Broadband Investment Group and Grubb & Ellis/Krombach Partners Form Strategic Partnership On Nearly 2.5 Million Square Feet of Commercial Real Estate.Business Editors ST. LOUIS--(BUSINESS WIRE)--June 16, 2000 BIG's EcoPlex Portfolio Company To Manage $900 million Of Commercial Real Estate Today, Broadband broadband Term describing the radiation from a source that produces a broad, continuous spectrum of frequencies (contrasted with a laser, which produces a single frequency or very narrow range of frequencies). Investment Group Corporation(TM) (BIG)(TM), through its real estate management portfolio company, EcoPlex Corporation(TM), formally signed a non-binding letter of intent with Grubb & Ellis/Krombach Partners to lease and purchase nearly 2.5 million square feet of commercial real estate in a deal valued at approximately $900 million, for BIG's 50 data centers to be located throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, announced Timothy M. Roberts, Chairman of the Board, Chief Visionary Officer A chief visionary officer (CVO) is a function within a company normally established beside the other executive functions like CEO or COO. The title is sometimes used to define a higher ranking position than that held by the CEO, and sometimes used to formalize a high-level , and Director of Broadband Investment Group Corporation. "This is one of the largest and most creative real estate arrangements ever structured," announced Roberts. "During the next 18 months, BIG, through EcoPlex, will oversee the management and construction of our 50 data centers located throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , but after this initial build-out, and as BIG's broadband infrastructure and network expands, the number of sites will grow globally. Having signed this letter of intent, BIG can now focus on attracting the best and brightest infrastructure executives and engineers to make BIG's network vision a reality." The general terms of the letter of intent outline BIG's intent to acquire approximately $900 million of commercial real estate through 15-year lease agreements, at an average price of $24 per square foot, to initiate development of the 50 data center build-out. As part of this deal, BIG will purchase the real estate for its mega-data centers located in St. Louis, Mo.; Hollywood, Calif.; and Fairfax, Va. "Grubb & Ellis/Krombach Partners looks forward to finalizing the terms of our partnership with Broadband Investment Group, as we anticipate a long-term relationship with BIG," said Peter Krombach, President, Grubb & Ellis/Krombach Partners. "As one of world's largest real estate companies providing full-service property sales, leasing and property management, we are a natural fit for BIG as they launch the global build-out of their broadband infrastructure." As one of 10 portfolio companies formed by BIG, EcoPlex will provide real estate management, design and construction oversight
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"Our letter of intent with Grubb & Ellis/Krombach Partners will provide BIG with the global reach our broadband infrastructure demands," explained Robert J. Bahan, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , EcoPlex. Broadband Investment Group Corporation (BIG), founded by 30-year-old Internet pioneer Tim Roberts and 31-year-old international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and management architect Patrick L. Smith and headquartered in St. Louis, Missouri, is building a family of wholly controlled companies that will deliver the first customizable, scalable platform for businesses entering the eMarketplace. To efficiently provide a wide variety of solutions, BIG is building a networked services platform (NSP (1) (Network Service Provider) An organization that provides a high-speed Internet backbone to ISPs and other service providers. Sprint, MCI and UUNET are examples of NSPs. See Internet backbones. )(TM) through a holding-company corporate structure that actively manages a portfolio of broadband infrastructure companies. In creating its NSP, BIG is building the optimal business model for delivery of customized, scaled solutions. As an NSP, BIG is a: - Solution Assembler Software that translates assembly language into machine language. Contrast with compiler, which is used to translate a high-level language, such as COBOL or C, into assembly language first and then into machine language. - Portfolio coordinator creating customized solutions - eMerchant Bank(TM) - Portfolio funding source - Business Incubator Business incubators are organizations that support the entrepreneurial process, helping to increase survival rates for innovative startup companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered a specialized menu of - Portfolio business services provider Through its broadband solution assembler (SA), BIG will meet the enormous demand of these businesses by assembling customized, fully scalable solutions delivering the highest quality of service (QoS) through service level agreements (SLA (1) (StereoLithography Apparatus) See 3D printing. (2) (Service Level Agreement) A contract between the provider and the user that specifies the level of service expected during its term. ). BIG's solutions can be scaled to meet demand for projects starting at $25,000 per month or as large as $30 million per month...or greater. Please visit BIG's Web site at www.bigcorp.net for additional information. |
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