The deal gives the new company access to 1,500 retail properties that Chain Links represents. The firm will earn royalties on services that MyShoppingCenter will provide, and has taken a warrant to buy equity in the new company, but would not disclose terms of the deal.
Chain Links officials believe it represents a fast way to bring broadband to retail sites. Despite the need for broadband services, retail centers have been largely overlooked as real estate and telecommunications companies rush to wire office buildings. "There hasn't been the cost-justification for putting that fat pipe into a shopping center," says Troy Peple, president of Chain Links.
Gary Mansfield, president and chief operating officer, says retailers need it even more than offices do. "The demands for multimedia solutions in retail are significantly higher," he says. Consumers will use it more than office workers, generating higher requirements per square foot.
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