TowerCo announced its strategic partnership with Norfolk Southern Corporation (NYSE: NSC) yesterday to expand market opportunities to develop wireless infrastructure along Norfolk Southern’s rights-of-way and industrial real estate parcels. Wireless carriers seeking to increase their broadband infrastructure through new communications towers can leverage Norfolk Southern’s robust real estate portfolio along more than 19,300 miles of track in 22 states and the District of Columbia.
“Most wireless carriers operate in territories that mirror our service area; so this is a natural opportunity to leverage property where towers can be built,” said Kathleen Smith, Vice President of Business Development and Real Estate at Norfolk Southern. “Technology is at the heart of how we are transforming our business. Leveraging this partnership with TowerCo will allow us to expand the reach of our real estate offerings portfolio while incorporating new tools and capabilities to enhance our operations.”
As part of the partnership, Norfolk Southern will have the right to reserve space on the towers to install new or relocated railroad communications equipment that will help the company enhance its signaling and two-way communications infrastructure.
TowerCo develops towers for colocation. It owns, builds, and manages a portfolio of communication towers and properties including over 6,000 land and rooftop assets and over 1,300 owned and managed towers.
“The TowerCo team is excited about this new partnership with Norfolk Southern to bring development opportunities for wireless infrastructure along their railroad right-of-way and industrial real estate parcels,” said Todd Boyer, CEO of TowerCo. “We have worked closely with Norfolk Southern over the last six months to streamline their process for wireless infrastructure deployment with more predictability. This opens up access to a vast amount of desirable real estate in urban and suburban markets to make it easier for carriers to optimize their networks.”
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