American Tower reports strong construction, lease-up performance

American Tower announced that it constructed 467 towers in the third quarter 2000. For the 8,352 active wireless towers owned by the company as of the beginning of the third quarter, the company added 1,035 broadband equivalent tenants. This is equivalent to an annualized lease-up rate of 0.50 broadband equivalent tenants per tower, an implied annual revenue growth rate of more than 32%.

Steve Dodge, American Tower’s chairman and chief executive officer said, "Our lease-up performance continues to improve, reflecting strong underlying customer demand, our rapidly improving tower inventory, and ongoing improvement in our overall operational execution. Further, despite an increasingly hostile zoning environment, our new tower construction efforts are becoming more and more productive."