August 3, 2000 -- Pinnacle Holdings Inc. announced today
that it had entered into an agreement to acquire The Univision
Center Building, a colocation facility in Dallas that currently
houses numerous large anchor telco tenants. The purchase price
was $136 million.
Existing tenants include Cable & Wireless, MCI Worldcom,
AT&T, Qwest, Winstar, Level 3 and e.spire. "This
modern facility is strategically located in Dallas's major central
business district," said Robert J. Wolsey, Pinnacle
Chief Executive Officer. "We anticipate rapid growth
as new tenants deploy networks, CLEC's and ISP's will use this
facility in order to gain connectivity to their customers." Wolsey
said Pinnacle had also entered into an agreement to develop an
additional facility in Dallas as a joint venture for $15 million. "We
will further develop this site to accommodate additional demand
and may invest additional funds for related capital expenditures
ranging between $15 and $30 million," he said. "We see
Dallas as a very desirable market and will continue to pursue
opportunities in Dallas and other major markets.''
August 3, 2000 -- Pinnacle Holdings Inc. announced today
that it had entered into an agreement to acquire The Univision
Center Building, a colocation facility in Dallas that currently
houses numerous large anchor telco tenants. The purchase price
was $136 million.