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MIDDLETOWN, R.I., Aug. 12, 2015 (GLOBE NEWSWIRE) -- Towerstream (NASDAQ:TWER), a Fixed Wireless Fiber Alternative provider, announced the addition of a premier Chicago mixed-use high rise tower, to its On-Net customer list. The building, located at 680 North Lake Shore Drive, will be its largest On-Net installation to date.
Owned and operated by Chicago-based Golub & Company, an international real estate investment and development firm, 680 North Lake Shore Drive is a 2.2 million-square-foot mixed-use building in the Streeterville neighborhood of downtown Chicago, built in 1929 and redeveloped in the 1980s. The Class A building includes 65,000 square feet of retail space, approximately 420,000 square feet of office space, parking and spacious residential condominiums.
An On-Net installation enables Towerstream to provide wireless broadband service to all businesses in a building as compared to the traditional approach of connecting one customer at a time. Building owners provide Towerstream access to its central data services room where the company installs Point-to-Point equipment capable of servicing the entire building rather than equipment only sufficient for one customer. As additional customers are secured in a building, the only action required is a cable run from the central data services room to the business' information technology portal.
"680 North Lake Shore Drive is a huge win for our On-Net deployment strategy due to its significant size and prominence. The team at Golub & Company recognized they needed a broadband solution that delivers superior quality and value and wanted Chicago's most reliable wireless broadband service. With that in mind, they have selected Towerstream's On-Net offering," stated Jeff Thompson, CEO.
Current and future residents and commercial tenants of 680 North Lake Shore Drive now have access to 100 megabits per second of dedicated, non-oversubscribed, symmetrical Internet connectivity, backed by a leading SLA (service level agreement), at the industry's lowest price.
"Our fixed wireless network delivers broadband services to businesses in Chicago that are faster than fiber, just as reliable, and delivered at a lower cost. Chicago's impressive landscape, built high into the sky, is a perfect match for our network which operates from the tallest buildings in the city," added Arthur Giftakis, SVP Engineering & Operations.
"We are pleased to bring Towerstream's On-Net wireless broadband solution to 680 North Lake Shore Drive. This installation is a part of our ongoing diligence to source technology solutions offering reliability, functionality and economy for everyone in the building," said Timothy Conway, General Manager at 680 N Lake Shore Drive. "Not only does Towerstream's On-Net solution offer our tenants a wireless broadband alternative at a fair price, we also use it to run building operations. It's a valuable offering with many different applications."
Building owners or property managers interested in learning more about Towerstream's On-Net offering can get more information at: http://www.towerstream.com/property-owner
Businesses interested in learning more about Towerstream's 100Mbps for $699 promotion can visit: http://www.towerstream.com/promotions/100mbps-only-699mo
About Towerstream Corporation
Towerstream Corporation (Nasdaq:TWER) is a leading Fixed Wireless Fiber Alternative company delivering high-speed Internet access to businesses. To date the company offers its broadband services in 12 urban markets including New York City, Boston, Los Angeles, Chicago, Philadelphia, the San Francisco Bay area, Miami, Seattle, Dallas-Fort Worth, Houston, Las Vegas-Reno, and the greater Providence area. In 2014, Towerstream launched its On-Net fixed wireless service offering building owners and property managers a redundant and reliable dense urban network that directly connects with Towerstream's fiber backbone. On-Net building tenants have access to 100 Mbps of dedicated, symmetrical Internet connectivity, with a premier SLA, for an industry-leading price of $699/month. For more information on Towerstream services, please visit www.towerstream.com and/or follow us @Towerstream.
The Towerstream Corporation logo is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=6570
About Golub & Company LLC
Chicago-based Golub & Company and its affiliates are active internationally in real estate development, acquisitions, asset and property management, leasing and corporate real estate services. Since its founding more than 55 years ago, the company has owned, leased or managed more than 50 million square feet of commercial and multifamily real estate properties valued in excess of $10 billion. For more information visit www.golubandcompany.com.
About HetNets Tower Corporation
HetNets Tower Corporation ("HetNets") was formed in January 2013 as a wholly owned subsidiary of Towerstream Corporation (Nasdaq:TWER), and offers a neutral host, shared wireless infrastructure solution, either independently or as a turnkey service. Its wireless communications infrastructure is available to wireless carriers, cable and Internet companies in major urban markets where the explosion in mobile data is creating significant demand for additional capacity and coverage. HetNets offers a carrier-class Wi-Fi network for Internet access and the offloading of mobile data. Its street level rooftop locations are ideal for the installation of customer owned small cells including DAS, Metro and Pico cells. Other solutions provided by HetNets include backhaul, power, and related small cell requirements. More information is available at http://www.hetnets.com.
Certain statements contained in this press release are "forward-looking statements" within the meaning of applicable federal securities laws, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by the Company with the Securities and Exchange Commission, including, without limitation, risk related to our ability to deploy and expand small cell rooftop tower locations in the New York City and other key markets. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements contained herein. The Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
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