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Nextlink Communications In Minneapolis Telecom Hotel Deal

MINNEAPOLIS- Dearth of appropriate space could hamper other telecom providers looking for space in the Twin Cities market. Nextel pays $14 Mil for 15-year lease.

By Jim McCartney | Updated on August 31, 2000

Nextlink Communications Inc., a McLean, Va.-based telecommunications provider, is entering the Twin Cities market by leasing a 62,000-sf Minneapolis warehouse. The site will serve as the hub for its local fiber-optic network, which will transmit voice, data and video to offices throughout much of the Twin Cities area. Under a 15-year lease, Nextlink will pay $14 million for the warehouse space.

“It was difficult to find the right space here, there just aren’t a lot of old warehouses in this market that fit our requirements,” says Jim Gearan. Gearan heads the Minneapolis office of Chicago-based Zeller Realty Corp. which, along with Chicago-based DLJ Realty Services, represented Nextlink in finding the telecom hotel space.

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