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Commercial Net Lease Realty, Inc. & ViaStar Energy Announce Partnership
INDIANAPOLIS, IN (May 18, 2005)- Commercial Net Lease Realty, Inc. (NYSE:NNN), a publicly traded retail real estate investment trust, will launch the Motorola® Remote Meter Reading Solution to monitor water consumption for a segment of its portfolio beginning this month. NNN is the first retail property owner to utilize the new Motorola (NYSE: MOT) Fixed Network AMR Product.
Indianapolis-based ViaStar Energy, Inc., the North American Master Distributor for the Motorola product, will provide NNN with this solution for its mission-critical utility data needs.
"Motorola's new AMR solution will provide us with a method to accurately bill our tenants for their actual water use and detect leaks in a more timely manner," said Kristin Furniss, Director of Asset Management. "This new partnership with ViaStar will enable us to rely on a single vendor for all of our utility management needs nationwide. NNN is comfortable with Motorola's leading role in wireless RF technology."
The utility grade wireless solution, which enables remote reading of meters multiple times per day and access to daily important interval data from a distance, was developed to help businesses and utilities control costs and decrease operating expenses. The fixed-network system uses the IMRTM Transmitter and Motorola's MOSCAD® platform to automate the meter reading and data acquisition process.
"Motorola's utility grade application provides the retail real estate market a means to better control and manage utility expense and consumption," said Todd R. Ryden, Co-CEO of ViaStar. "The adoption of this system by NNN validates the demand in the marketplace for a reliable technology with a reputable brand identity" said Christopher Day, Co-CEO of ViaStar.
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