360networks Buys Telecom Facilities in 4 Cities

360networks Inc. has purchased Los Angeles Carrier Center and telecommunications facilities in three other U.S. cities for $144 million in cash and stock. The seller was a joint venture that included Los Angeles-based Telecom Real Estate Services, which also sold 360networks options to buy facilities in Denver, San Antonio, Houston and Austin, Texas, as well as in other parts of Los Angeles. The facilities are used by telephone, Internet and other telecommunications providers to house electronic switching equipment. Los Angeles Carrier Center, the former Robinsons store at 7th and Hope streets, includes 400,000 square feet of space. The building is almost fully leased, said 360networks spokeswoman Michelle Gagne. The sale marks one of the first of a major telecommunications switching center in Los Angeles. People familiar with the deal said 360networks, based in Vancouver, Canada, paid about $80 million for the Los Angeles facility. Gagne said the firm would not discuss the purchase price.