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NAPLES, FL -- (Marketwired) -- 05/17/17 -- Benchmark Builders, Inc., ("Benchmark") a wholly owned subsidiary of FTE Networks, Inc.(OTCQX: FTNW), a network infrastructure solutions provider, today announced that the company has been ranked No. 6 among the top general contractors for alteration and renovation projects in New York City, based on initial estimated costs listed in New York City Department of Building permits filed between January 2012 and March 2017. The ranking appears in the May issue of The Real Deal, considered a leading source of New York real estate news.
According to Fred Sacramone, President of Benchmark Builders, the company benefited from an overall rise in the interior construction market segment, as many tenants are taking advantage of attractive lease incentives as well as exploring new neighborhoods. Landlords are undertaking significant renovation projects to upgrade their properties to compete with new office space built or planned throughout the boroughs as well as additional technology projects. A recent Building Congress report indicates that annual spending for alterations and renovations in New York City was $9 billion from 2014 through 2016, up from annual spending of $5.5 billion between 2011 and 2013.
"Benchmark's impressive ranking reflects not only the hard work and dedication of our entire team, but more importantly, the consistent quality that our company delivers with every project that we undertake," Sacramone said. "Since our company was founded nine years ago, we have been focused on establishing a new benchmark for the industry, and our commitment to exceeding the expectations of our clients remains steadfast."
About Benchmark Builders, Inc.
Benchmark Builders ("Benchmark"), a leading full-service interiors construction manager and general contractor, designs and builds state-of-the-art facilities for corporate office, broadcast, retail, lobby, infrastructure and technology spaces for Fortune 500 clients, predominantly in the New York City metropolitan area. Founded in 2008, Benchmark delivers innovative services and projects built from knowledge of how technology and structures evolve, ranging from large multi-floor renovations to major infrastructure. The company was recently recognized in The Real Deal's 2017 ranking of New York City's biggest construction bosses and ranked 6th in the Top 20 Alteration & Renovation Project category, which is based on value of projects in the city. Benchmark is a wholly owned subsidiary of FTE Networks, Inc.(OTCQX: FTNW).
About FTE Networks, Inc.
FTE Networks, Inc., and its businesses provide end-to-end design, build, and support solutions for state-of-the-art network and commercial properties, creating the most advanced and transformative smart platforms and buildings. Working with some of the world's leading Fortune 100/500 corporations and communications service providers, FTE's businesses are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of innovative projects and services. FTE Networks and its subsidiaries operate 8 Lines of Business, including: Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, Internet Service Provider, Construction Management, General Contracting, and Pre-Construction Services. With approximately 200+ employees, FTE and its entities have operations in 17 states and Europe. For more information, please visit: www.ftenet.com.
This release may contain forward-looking statements relating to the business of FTE. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTE's current expectations and beliefs concerning future developments and their potential effects on FTE. There is no assurance that future developments affecting FTE will be those anticipated by FTE. FTE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
Source: FTE Networks, Inc.
Released May 17, 2017