Data Center REITs CyrusOne, CoreSite to Sell for Combined $25B in Two Separate Mega Deals

DALLAS AND DENVER — In two separate transactions exceeding $25 billion in value, data center REITs CyrusOne Inc. (NASDAQ: CONE) and CoreSite Realty Corp. (NYSE: COR) have agreed to be acquired.KKR and Global Infrastructure Partners (GIP) are teaming up to acquire all outstanding shares of common stock for CyrusOne at $90.50 per share for a deal value of approximately $15 billion, including the assumption of debt.In the other mega transaction, telecommunications firm American Tower …

November 16, 2021Acquisitions, Colorado, Company News, Data Centers, Massachusetts, Northeast, Texas, Top Stories, Western

Richmond Industrial Pipeline Shows No Sign of Slowing Development, Leasing

At the mid-year mark, industrial occupancy in the greater Richmond area remains strong, closing with an overall occupancy rate of 93 percent in the categories we track (Class A, B select C vacant and investor-owned product with a minimum of 40,000 square feet total).Class A occupancy increased to 96 percent at the end of the second quarter, up from 93 percent at the end of the first quarter. Class B occupancy experienced a slight decrease to 91 percent, down from 92 percent at the end of …

October 25, 2021Data Centers, Industrial, Market Reports, Southeast, Southeast Market Reports, Virginia

Rowan Green to Develop $300M Hyperscale Data Center Campus in Temple, Texas

TEMPLE, TEXAS — Rowan Green Data, a data center developer and infrastructure provider with offices in Houston and Portland, will develop a $300 million hyperscale campus in the Central Texas city of Temple. The project will span approximately 135,000 square feet and have a power capacity of about 500 megawatts. In the data center space, the amount of electricity needed to power the servers and cool the equipment is the highest variable cost; as such, the size of data center deals is …

October 11, 2021Data Centers, Development, Industrial, Texas

Prime Data Centers to Invest up to $1B to Develop Industrial Campus in Metro Chicago

ELK GROVE VILLAGE, ILL. — Prime Data Centers has unveiled plans to build a 750,000-square-foot data center campus in the Chicago suburb of Elk Grove Village. The three-facility project will be one of the largest data center campuses in the O’Hare market, according to the company. Prime Data Centers plans to invest up to $1 billion for the project. A timeline for completion was not

September 24, 2021Data Centers, Development, Illinois, Industrial, Midwest

PRP Sells Four Office Campuses for $1B, Makes $2B Commitment for Logistics and Data Center Acquisitions

WASHINGTON, D.C. — PRP, a privately held real estate investment and management firm based in Washington, D.C., is making a sea change as it looks to bolster its logistics and data center portfolio and churn its office assets. The company is in the process of selling four office campuses in separate deals totaling more than $1 billion.At the same time, PRP is allocating $2 billion to acquire logistics facilities leased to credit-worthy companies in primary and secondary markets, as well as …

August 24, 2021Acquisitions, Company News, Data Centers, District of Columbia, Industrial, Life Sciences, Maryland, Office, Southeast, Texas, Top Stories, Virginia

Life Sciences Firms Dominate Activity in Raleigh-Durham’s Industrial Market

It seems as though we have recently seen significant weekly announcements about investment and job creation by major U.S. companies into the Research Triangle Park region, the area situated between the cities of Raleigh and Durham. For instance, tech titans Apple and Google declared plans to establish major engineering hubs in the region, adding heat to an already dynamic market.It is common knowledge that the Triangle area is respected for its large, highly educated workforce thanks to …

August 23, 2021Data Centers, Industrial, Life Sciences, Market Reports, North Carolina, Southeast, Southeast Market Reports

Data Center Development Download: What Makes a Great Site?

As more aspects of our lives become digital, the need for data centers is increasing exponentially. COVID fast-tracked the upsurge in data center demand, as businesses worldwide transferred communications and operations to digital platforms — but the need for data centers is permanent.“With an increase in devices needing to connect to each other and the Internet of Things (IOT), the amount of data needed to do this will always be growing, furthering the demand for additional space …

August 10, 2021Bohler, Content Partner, Data Centers, Development, Features, Industrial, Midwest, Northeast, Southeast, Texas, Western

STRO Cos. Acquires 141,000 SF Office, Data Center in Florham Park, New Jersey

FLORHAM PARK, N.J. — The STRO Cos., a New Jersey-based investment firm, has acquired a 141,000-square-foot office and data center that is situated on a 14.4-acre site in the Northern New Jersey community of Florham Park. The company purchased the asset from Bank of New York Mellon (BNY), which also occupies the building, for an undisclosed price. Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O’Hearn, J.B. Bruno, Jordan Avanzato and Michael Kavanaugh of JLL represented BNY in the …

July 27, 2021Acquisitions, Data Centers, New Jersey, Northeast, Office

Sila Realty Trust Sells Data Center Portfolio to Mapletree Industrial for $1.3B

TAMPA, FLA. — Tampa-based Sila Realty Trust Inc. has sold 29 data centers across 18 states to Mapletree Industrial Trust, an industrial REIT listed on the Singapore Exchange. The sales price was approximately $1.3 billion. The transaction is expected to be completed in one or more closings during the third quarter of 2021.In total, the data center portfolio spans 3.3 million square feet of net leasable area. The portfolio is 87.8 percent leased to 32 tenants, including Fortune Global 500 …

July 23, 2021Acquisitions, Data Centers, Florida, Southeast

From Hype to Hyperscalers: NAI Global Discusses Trends for Data Centers

Data centers have exploded in importance over the last year and a half. Kevin Goeller, principal, NAI KLNB, has over 21 years of experience in the field of data center development, sales and leasing, but says that, lately, exponential change is driving demand in this asset class. He spoke to REBusinessOnline about the booming need and limiting factors for data centers. REBusiness: Tell us about the sudden, increased demand for data centers. What amount of this demand is due to the pandemic …