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MetroPCS Plans Relocation of Headquarters,
400 Workers, to Richardson’s Telecom Corridor®
RICHARDSON, Texas – June 25, 2007 – MetroPCS Communications, Inc. (NYSE:PCS), the nation’s leading provider of flat rate unlimited wireless communications services, announced that it has leased the Lakeside Centre II office building in Richardson, Texas, for the relocation of its corporate headquarters and its 400-person workforce. The six-story, 115,583 square-foot Lakeside Center II facility, located at 2250 Lakeside Blvd. in the Greenway Office Park, is owned by CommonWealth Partners, LLC.
The company, currently headquartered at 8144 Walnut Hill Lane in Dallas, expects to relocate in the fourth quarter of 2007. The company also has twelve regional offices around the country, with approximately 2,100 employees nationwide.
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“As MetroPCS continues to take a leading role in wireless communications and technological innovation, we felt it was important to identify a headquarters facility that could accommodate further growth and also be more conveniently located for our personnel,” said Roger Linquist, President, CEO and Chairman of MetroPCS. “This new headquarters in Richardson will be key to our continued leadership in the wireless sector.”
MetroPCS is also among the first wireless operators to deploy an all-digital network based on third-generation infrastructure and handsets. The company’s initial public offering on April 19, 2007, which ranks as the second largest IPO concluded in the U.S. this year at $1.3 billion, was also among the most successful in the technology sector since Google’s in 2004.
The announcement comes on the heels of other significant activity in the Telecom Corridor® area, including the planned relocation of Blue Cross Blue Shield of Texas’ headquarters, the relocation of Yahoo!’s regional headquarters, the redevelopment of several major retail centers along Belt Line Road and the commencement of new transit-oriented development projects such as Eastside, The Venue and Centennial Park.
Johnny Johnson and Trey Smith of CAPSTAR Commercial Real Estate represented CommonWealth Partners in the transaction, and Carl Ewert and Bo Bond of The Staubach Company represented MetroPCS.
About MetroPCS Communications, Inc.
MetroPCS Communications, Inc. (NYSE:PCS) is a provider of unlimited wireless communications service for a flat rate with no signed contract. MetroPCS owns or has access to licenses covering a population of approximately 140 million people in 14 of the top 25 largest metropolitan areas in the United States, including New York, Philadelphia, Boston, Miami, Orlando, Sarasota, Tampa, Atlanta, Dallas, Detroit, Las Vegas, Los Angeles, San Francisco and Sacramento. Currently, MetroPCS has more than 3 million subscribers and offers service in the Miami, Orlando, Sarasota, Tampa, Atlanta, Dallas, Detroit, San Francisco and Sacramento metropolitan areas.
About CommonWealth Partners, LLC
CommonWealth Partners is a fully integrated private real estate investment, development, management and operating company based in Los Angeles, California. Founded in 1996, the company combines the value-creating talents and hands-on operating expertise of an entrepreneurial development company with the discipline and research capabilities of an institutional investment firm. The company presently manages in excess of $1.1 billion of real estate capital and institutional-quality office properties across the United States.
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