American Tower Buys Communications Site at John Hancock Center
American Tower Corporation (NYSE: AMT) announced today the acquisition of the 93rd and 97th floors and the rooftop of the John Hancock Center in Chicago, IL and the rights to the existing telecommunications leases associated with the property.
The acquisition of the physical space, along with the existing leases, followed the vertical subdivision of the John Hancock Center, the fourth-tallest building in Chicago and the sixth-tallest in the United States. This transaction allows American Tower to make a prominent entrance into the Chicago-area broadcast market, while augmenting its rooftop portfolio in the region. The agreement includes more than 34,000 square feet of space for broadcast and telecommunications equipment, the rooftop and two broadcast masts.
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