Cornerstone Properties Inc. Announces Expansion and Extension of Lease With Sprint Spectrum At East Bay Property.SAN FRANCISCO--(BUSINESS WIRE)--April 22, 1999-- Cornerstone Properties Inc. (NYSE NYSE See: New York Stock Exchange : CPP cpp - C preprocessor. ), announced today that Sprint Spectrum has agreed to expand its premises by 12,000 square feet and extend its lease with Cornerstone Properties, for a total of 46,000 square feet through October 2005. Sprint previously occupied 34,000 square feet at Park Plaza, the suburban Class A office project located in San Francisco's burgeoning East Bay community of Pleasanton. Regional Vice President, Andrew Brown Andrew Brown may refer to:
Cornerstone Properties Inc. is a self-administered equity real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) investing in Class A office properties in prime locations in major suburban markets and prime central business districts. The Company, through its subsidiaries, currently owns 96 Class A office properties 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. totaling approximately 21 million square feet. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Cornerstone's stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors CPP. This press release contains forward-looking statements within the meaning of the Federal securities laws. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, that could cause the actual results, performance or achievements of Cornerstone to differ materially from those reflected in such forward-looking statements. Information contained in this press release regarding current and future market conditions is based on Cornerstone's assessment of real estate markets as of this date and is subject to the uncertainties inherent in such an assessment. In particular, but not exclusively, national and regional economic conditions, the rate of new construction, and demand and supply in a given market will affect leasing activity, projected rents and the cost of lease renewals. For more information on Cornerstone Properties visit Cornerstone Properties' Web site at http://www.cstoneprop.com |
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