DALLAS--(BUSINESS WIRE)--5G LLC is excited to announce an exclusive multi-year marketing agreement with Urstadt Biddle Properties Inc. (“UB”) that will facilitate the potential installation of 5g cell sites on the rooftops of UB’s shopping center properties in high-density locations in the NYC metro area. Founded in 1969, UB is a publicly-traded self-administered equity real estate investment trust ("REIT"). Through the agreement with 5G LLC, UB seeks to bolster the value of its rooftop portfolio by turning the dead space on its suburban rooftops into revenue. 5G LLC sees UB as an incredible fit for placing 5G equipment on-site, bringing significant property revenue without capital expenditure. The 5G solution could result in generating significant incremental rent rolls, building meaningful capped value without encumbering the buildings while providing a cutting-edge amenity to UB’s tenants and communities.
"Our exclusive agreement positions UB to potentially generate additional revenue growth from a key, but underdeveloped, asset class: our rooftops," said President & CEO, Willing Biddle. "Our rooftops are in high-density suburban areas around New York City. We can provide the wireless communications industry a seamless and efficient process for anchoring their networks in high-value locations when expansion is of critical importance to the wireless industry. With decades of experience and strong relationships with all of the wireless carriers, we believe that 5G LLC is an ideal partner to help us capitalize on this potential, especially during the 5G build-out cycle.”
“5GLLC is excited to work with UB on implementing 5G deployment and potentially creating significant additional revenue streams for them. Our strategic arrangement with UB aims to transform its shopping center rooftops, thereby allowing UB to provide amenity and community resources to its tenants and its tenants’ customers, as well as to carriers, across their 500-acre strategic suburban rooftop portfolio,” said Jason Lind, Executive Vice President of Real Estate, 5G LLC.
5G LLC’s “rooftops” allow carriers to quickly deploy and expand the newest technology to meet the dramatic increase in demand of required cell sites. The rooftop opportunity now exists because the physics of 5G requires a 5-fold increase in cell site density and allows for lower cell antenna heights, making commercial real estate an ideal "cell tower" site. In addition, 5G presents the opportunity to ensure the availability of an amenity that is rapidly becoming an absolute necessity for commercial tenants. 5G promises more connected devices, faster speeds and highly resilient service levels driving new business sectors like connected vehicles, healthcare, gadgets, and public transportation. 5G LLC’s executive carrier and high-tech relationships provide UB with the potential to become an immediate on-ramp to the carrier’s national deployments.
About UB Properties
A leading real estate investment trust ("REIT") that provides investors with a means of participating in the ownership of income-producing properties. UB’s investment properties consist primarily of neighborhood and community shopping centers in the northeastern part of the United States with a concentration in the Metropolitan New York tri-state area outside of the City of New York. UB believes its geographic focus allows it to take advantage of the strong demographic profiles of the areas that surround the City of New York and the natural barriers to entry that high population density and limitations on developable land provide. Approximately 22% of UB’s portfolio is located in what are referred to in the commercial real estate industry as a “Super Zip”.
About 5G LLC
5G LLC is bridging the gap between institutional and corporate owners of commercial real estate portfolios and technology providers including wireless carriers through cutting-edge solutions and services. 5G LLC’s mission is to work closely with the CRE environment and Technology providers to deliver substantial new rent roll, cost efficiencies, amenity benefits resulting in higher NOI and capped value at no capital expense to the real estate owners. To find out more, visit www.5gllc.net and follow 5G LLC on LinkedIn.
