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Shopping Center Owner Hires Tower Resource to Market Cell Tower Development

ATLANTA - Regency Centers is giving the Columbus, OH-based telecommunications, planning, development and management firm exclusive rights to market the non-revenue producing portions of Regency's shopping centers to wireless communications providers.

By Mark Clothier | Updated on November 26, 2001

ATLANTA – Regency Centers, a national owner, operator and developer of grocery-anchored shopping centers, has formed a marketing alliance with Tower Resource Management. The deal calls for Tower to negotiate and administer all telecommunications access rights at more than 260 Regency shopping centers nationwide.

“This gives us the ability to use one contact to market all our properties for cell tower development,” said Scott Prigge, Regency vice president of operations for the Atlanta area. The deal gives TRM the exclusive right to market Regency’s properties to wireless telecommunications providers and allows Regency to tap TRM’s relationships within the telecommunications industry.

“With this agreement, TRM will also seek opportunities for the construction of tower and monopole structures on non-revenue producing portions of Regency’s shopping centers,” Prigge said in a statement. “TRM’s concept is efficient as well as cost effective, because it allows multiple telecom providers to co-locate on the towers developed by TRM and reduces the need for each carrier to expend valuable capital to build their own.”

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