JEMB joins industry in taking telecom act to the Javits Center.
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. Joseph Jerome and Raymond Chalme, principals of JEMB Realty, made the announcement.
Growing demand from high-tech, telecom and New Media tenants prompted JEMB to form the new Tornado Telecom & Technology division to focus exclusively on the acquisition and redevelopment of suitable facilities for these expanding companies.
The "New" Telecom Business Conference and Expo, returning to the Jacob K. Javits Convention Center for three exciting days of everything telecom, seemed like the perfect place to unveil JEMB's new Tornado Telecom & Technology division.
The Telecom Business Conference and Expo is the only event to focus on the "new" converging telecom market-place of voice, data, networking and Internet services, while attracting the customers you need to see most CLECs, data CLECs, ISPs, long distance providers, cable and utility companies, agents, resellers, large corporate end users and next-generation network service providers. For information on the event, call 1-800-288-8606.
JEMB and the New Tornado Telecom & Technology Division
JEMB acquired the New York Telecom Exchange@75 Broad Street in late 1999 and invested in a major capital redevelopment plan to reposition the building into the ultimate home for the technology industry. The property's occupancy rate has since risen to over 90%. The 675,000-square-foot property's roster of existing tenants includes AT&T/TCG, Bell Atlantic, Nextlink, Level 3 Communications LLC, and Adelpha Business Solutions.
Subsequently, JEMB also acquired the former Scottsdale Galleria, a 700,000 square-foot shopping center in Scottsdale, Arizona, currently being converted to a mixed-use technology plus telecom center with a separate retail component. It will be renamed Scottsdale Technology Center.
JEMB Realty's plans involve designating a team of reputable engineers, establishing a detailed master plan for routing of the power feeders, telecommunications risers and inter-connections, grounding cables, antennas and emergency back-up. Moreover, JEMB Realty also designs and builds generator farms and fuel oil distribution systems to allow tenants to install and manage their own generators.
"The enthusiastic response we've received from the technology and telecommunications tenants prompted our latest venture," said Mr. Chalme. "Our newest division strategically aligns our tenants' needs to not only compete, but 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-com 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 Newark, NJ, Atlanta, GA, Phoenix, AZ and Boston, MA.
JEMB Realty Corp. was founded in 1990 by Joseph Jerome and Raymond Chalme. The company's extensive experience has encompassed the management, development and leasing of commercial property in New York, New Jersey, Texas and Canada. The firm's current portfolio includes over 3.5 million square feet of commercial property, 650 hotel rooms, 700 apartment units, 10 climate controlled self-storage facilities throughout the Southwest, several shopping centers and potential new development sites in Manhattan.
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|Title Annotation:||JEMB Realty unveiling new telecom division at conference held at Jacob Javits Convention Center|
|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Aug 9, 2000|
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