Location still a major factor, even in high-tech environment.

In today's high-tech driven economy, the age-old real estate mantra of "Location, Location, Location" may seem less relevant, as dot-com, telecom and other high-technology related tenants increasingly demand strict infrastructure, telecommunications and electrical requirements.

But-location, including proximity to central business districts, major transportation hubs and scarce fiber optic corridors, will always be a major factor in determining the best location for tenants in the 21st Century.

Witness the dramatic recovery of Downtown Manhattan, which not only turned a new corner in the late 1990s but is once again making major headlines. One reason for Downtown's current success has been the evolution in its tenant make-up. Financial institutions are no longer the only industry claiming the Financial District as their home. In fact, there's an entirely new kind of tenant in the mix, the telecom industry.

One of the factors propelling the Financial District to the spotlight as the newest and most advanced telecom and technology hub is JEMB's 75 Broad Street. This property has quickly become the ultimate model for all telecom buildings, providing its tenants with the most advanced high-speed connectivity, backup systems, generator farms, fuel distribution and security systems currently attainable, in addition to being one the City's only TransAtlantic AC-1 connection sites.

For these reasons, telecom tenants are quickly filing in and drastically changing the traditional tenant profile for Downtown. Moreover, the amount of equipment installed and operated by each tenant greatly reduces any probability of relocation in the near future and secures the continued success of this and other properties like it.

This trend is not likely to change. The current deregulation of the communications industry has placed hubs such as 75 Broad in high demand. More and more players are entering this competitive market every year, and each new competitor is winning enough of this growing market to be able to afford the best telecom equipment and the best means to house it.

As the new hub for all types of telecommunications tenants, NYTeleX has set a new standard for the new millennium, and has grown from 15 percent occupied to 95 percent in less than a year. Current tenants include: AT&T/TCG, Bell Atlantic, Initra/Digital Broadcast Network, e.spire Communications, ICG, Interoute, Level 3 Communications, MCI Metro, MFN, NET-Tel Corp., New Global Telecom, Nextlink, PLD Telekorn, Time Warner, Corecomm Ltd. Co.Space of New York, LLC, DeltaThree.com, Fusion Telecommunications International, Inc., and Hyperion Communications to name a few.

Flush with success from this first telecom facility, JEMB Realty has launched an office Telecom and Technology division, to be known as Tornado Telecom & Technology. The new division will provide its expanding tenant base with the full range of resources -- both in space requirements and engineering requirements -- they need to optimize their potential. These growing firms are broadening their horizons, and working with JEMB, and are targeting cities across the nation to expand this technological revolution.

In line with this expansion, JEMB has acquired the former Scottsdale Galleria, a 700,000 square-foot former shopping center in Scottsdale, Ariz., to be converted to a mixed-use technology plus telecom center with a separate retail component. It will be renamed Scottsdale Technology Center, and will undergo a $40 million redevelopment.

The enthusiastic response we've received from the technology and telecommunications tenants prompted our latest venture. Our newest division strategically aligns our tenants' needs to not only compete, but also thrive in this emerging marketplace. Our long-term commitment to the industry, and flexibility to move with it, will ensure success for this venture. From answering questions regarding power requirements to planning for growth and expansion, we provide one-stop-shopping for our telecommunications and technology tenants.

Emerging telecom, dot-coin and new media companies share unique requirements that are literally changing the face of the real estate industry. In the 21st Century, location is redefined as how close to major underground fiber routes a property is located. Physical infrastructure needs are critical, including large floorplates, wide column spacing, high ceilings, redundant power and multiple broadband telecommunications connections. Opportunity to expand quickly within the same property is also crucial to these high-tech tenants.

JEMB's current business plan calls for the evaluation of other sites throughout the country and in Canada, with plans to develop additional facilities to meet the growing space needs of the exploding telecommunications and technology industry. The firm is currently under contract for several new facilities in the Northeast and Midwest. Target cities include Phoenix, Boston and Atlanta, as well as Northern, New Jersey