Everstream Sells Two Michigan Properties

Share

Share on facebook
Share on twitter
Share on linkedin
Share on email

CLEVELAND – December 1, 2016 – Everstream, a superregional fiber-based network service provider, has sold two Michigan properties obtained as part of its GLC/Comlink acquisition for a combined total of $4.62 million.

“The cash generated will be used to invest more into our Michigan network through future acquisitions,” said Brett Lindsey, president and chief executive officer, Everstream.

The first property, located at 1781 Holloway Dr., Holt, Michigan, sold for $3.72 million to real estate investor Neal Maclean of Royal Oak, Mich. The building is 93,108 square feet with office space and warehouse facilities.

The second property, located at 1515 Turf Lane, East Lansing, Michigan, which served as the headquarters for GLC/Comlink, sold for $900,000 to the National Association of College and University Food Services. The 10,200-square-foot, build to suit office building is minutes from downtown Lansing, East Lansing and Michigan State University.

Michigan team members will relocate to Everstream’s new regional office in downtown Lansing’s historic Knapp’s Centre, 300 S. Washington Sq.,—building upon the company’s commitment to growing jobs and investing in the region’s economic vitality.

Everstream’s new office space is an open floor plan—an intentional configuration to facilitate communication among team members and closely tied to Everstream’s culture. The company’s Cleveland headquarters follows the same concept.

“We want our offices to help facilitate communication between all areas of the business. Our new office helps make that possible,” Lindsey said.

About Everstream

Founded in 2014, Everstream is a superregional network service provider bringing fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest. We focus on delivering best-in-class network solutions while providing an unrivaled commitment to customer service. With more than 9,500 miles of fiber across five states and comprehensive data center connectivity at 100 Gigabit speed, we provide the fastest network in our service areas. Everstream’s network allows businesses to operate a converged IP network capable of delivering robust voice, video, and data services at speeds from 10 mbps to 100 gbps. For more information, visit everstream.net.

Contact:

Suzanne Scarpino
sscarpino@everstream.net
M: 216-346-5227
O: 216-302-2615

View source version here: https://everstream.net/press-releases/everstream-sells-two-michigan-properties/

Cuba Burch Berner

Cuba Burch Berner is an Associate at M|C Partners, where he focuses on investment opportunities in digital infrastructure and technology services. Prior to joining the firm in 2022, Cuba was an Equity Research Associate at Citi covering infrastructure companies within the telecommunications industry, including data centers and wireless towers. He holds a B.S. in Mathematics with a specialization in Economics from the University of Chicago. Cuba currently lives in Boston’s West End and enjoys  a myriad of outdoor activities including running, swimming, hiking, and skiing.

Joined

2022

AFFILIATED PORTFOLIO

Contact

BOARD POSITIONS

AccentHealth

AccentHealth operates an out-of-home advertising network that reaches over 12,000 physician office waiting areas in the U.S. – JOHN WATKINS

TEAM MEMBERS

SECTOR

IT SERVICES

James F. Wade

Jim Wade co-founded M/C Partners in 1986 with Dave Croll. He has been investing in communications and technology services since the advent of wireless and broadband, cornerstones of the firm’s sector focus. As a founding managing partner, he manages the firm’s investment process, and continuously seeks out management teams, company prospects and financial resources to grow the portfolio. Jim’s successful track record includes MetroPCS (IPO), Lightower Holdings (acquired by Berkshire Partners), Triad Communications (acquired by T-Mobile), Brooks Fiber Properties (IPO and sale to AT&T Wireless), Cavalier Telephone (acquired by PAETEC), NuVox Communications (acquired by WindStream), Attenda (acquired by Darwin Private Equity), Melita (acquired by Apax Partners), PR Wireless (joint venture with Sprint affiliate in Puerto Rico), Thrive Networks (acquired/recapitalized by Court Square) and Involta (acquired by Carlyle Group). Today he serves as a director on the Board of Connectivity Wireless and has responsibility for Omega Wireless. Jim graduated from the University of Notre Dame a B.B.A in Finance and received an MBA from Harvard Business School. He lives outside Boston with his wife and four children. Jim was an avid boater and is now an average golfer.

JOINED

1986

Contact

BOARD POSITIONS
Connectivity Wireless

 

Connectivity
Wireless
Involta

Abhishek Rampuria

Abhishek (A.B.) is a Partner at M/C Partners, where he leads origination, deal diligence and portfolio company support for investments in a variety of communications and technology services segments. He currently serves on the Board of Ascend Technologies, Connectivity Wireless, Edafio Technology Partners, TowerCom and serves as a Board Observer for Thrive Networks. A.B. previously served as a Board Observer for Ensono (acquired by KKR) and QOS Networks (acquired by Zayo). Prior to joining M/C Partners in 2015, A.B. worked at Altman Solon (formerly Altman Vilandrie), a technology, media & telecommunications focused strategy consulting firm, where he completed projects for both operating companies and private equity investors. A.B. received a B.S. in Materials Science & Engineering from the Massachusetts Institute of Technology. He lives in Boston’s South End and outside of work, enjoys skiing, cycling, traveling and cheering on his home-town Patriots and Celtics.

Joined

2015

AFFILIATED PORTFOLIO

Thrive Networks

Contact

BOARD POSITIONS

Ascend Technologies
Connectivity Wireless
Edafio Technology Partners
TowerCom