NEW YORK (BUSINESS WIRE) - Con Edison Communications, Inc., a provider of
fiber optic network services in metropolitan New York, has signed an
agreement with Newmark & Company Real Estate, Inc., one of the tri-state
area's largest providers of real estate services.
The partnership will enable Con Edison Communications to provide "last mile"
fiber optic connectivity to multi-tenanted commercial properties owned or
managed by Newmark.
A wholly-owned subsidiary of Consolidated Edison, Inc. (NYSE:ED) Con Edison
Communications' (CEC) fiber optic network will connect telecommunications
and Internet service providers to commercial properties throughout the five
boroughs and Westchester.
Newmark & Company Real Estate, Inc. owns, manages and leases large,
multi-tenanted commercial properties in more than 125 buildings in New York
City, Westchester, Long Island, Connecticut and New Jersey, as well as
California. Newmark Telecommunications, LLC, the telecommunications arm of
the company, will pursue site acquisitions on behalf of CEC for six months
with the option for extension. Some Newmark-managed buildings include the
Multi-Media Building at 220 east 23rd Street, The Film and Video Center
building at 630 9th Avenue and the Market Center at 230 5th Avenue.
"Newmark is one of the leading real estate companies with a prestigious
client base -the relationship is an opportunity to further expand our
services within the real estate community and New York City, " said Peter
Rust, president and CEO of Con Edison Communications. "The agreement
signifies not only increased property value for current building owners, but
also a lasting and superior connectivity base for future tenants and
Paul Nussbaum, managing director of Newmark Telecommunications, LLC said,
"We chose Con Edison Communications as a partner and carrier of broadband
service for their ability to provide enhanced accessibility to both future
and present carrier tenants in our properties. The combination of
reliability and the diversity of CEC's services offers state-of-the-art
bandwidth to accommodate our tenants' future broadband requirements."
About Con Edison Communications, Inc.
Con Edison Communications, Inc. (CEC) is a wholly owned subsidiary of
Consolidated Edison, Inc. CEC, a carrier's carrier, offers a comprehensive
range of value-added products and services designed to enhance the
performance of its customers' networks. CEC provides managed data transport
services, leased capacity services, and plans to offer in-building optical
distribution to multiple classes of customers including long-distance
carriers, competitive local exchange carriers and Internet, cable, wireless
and video companies. CEC's NYC metro area network is expected to
interconnect over 1,000 commercial buildings, POPs and Verizon Central
Offices by the end of 2005. Additional information about CEC is available at http://www.electricfiber.com.
About Consolidated Edison, Inc.
Consolidated Edison, Inc. (NYSE:ED) is one of
the nation's largest investor-owned energy companies, with approximately $10
billion in annual revenues and $17 billion in assets. The company provides a
wide range of energy-related products and services to its customers through
two regulated utility subsidiaries and four competitive energy and
telecommunications businesses. For additional financial, operations and
customer service information, visit the Consolidated Edison, Inc. web site
About Newmark Real Estate
Newmark & Company Real Estate, Inc., founded in 1929, is one of the largest
independent, full-service real estate firms in the U.S. The firm manages
and/or leases 46 million square feet of commercial space, including a
nine-million-square-foot portfolio owned by its principals. Newmark offers
comprehensive brokerage, property and asset management, construction, retail
and corporate advisory, telecommunications, valuation, environmental,
engineering, underwriting, investment sales and financial services to
tenants, owners, investors and developers. Headquartered in New York,
Newmark has offices in Chicago, Dallas, Connecticut, Westchester, New
Jersey, Long Island, Washington, D.C. and Southern California. An
affiliation with ONCOR International extends Newmark's reach to more than
220 cities worldwide. For more information, please http://www.newmarkre.com.