JV Acquires Bay Area Data Center Development Site
SAN FRANCISCO — A joint venture between CIM Group and fifteenfortyseven Critical Systems Realty (1547) has acquired a 7.3-acre site at 400 Paul Ave. in the Portola neighborhood of San Francisco for an undisclosed sum. The site will soon be home to a 187,000-square-foot data center with 24 megawatt power capacity.
The acquisition also includes two 1930s-era buildings that total 54,225 square feet. The facilities will undergo improvements to serve as office and support space for data center tenants.