IPI Partners Acquires 138,000 SF Data Center in Downtown Denver

DENVER — IPI Partners has purchased a three-story primary data center located at 1500 Champa St. in downtown Denver. Morgan Reed Group sold the asset for an undisclosed price.IPI Partners plans to further develop the 138,000-square-foot center’s connectivity ecosystems and colocation capacity. Currently, the property can support approximately 10 megawatts of power and offer a robust “Meet-Me-Room,” a space telecommunications companies can physically connect to one another and …

January 14, 2022Acquisitions, Colorado, Data Centers, Industrial, Western

AREP, Harrison Street to Develop Six Properties in Virginia’s Data Center Alley for $1B

ASHBURN AND ARCOLA, VA. — A joint venture between American Real Estate Partners (AREP) and Harrison Street has announced plans to develop six powered shell data centers in Virginia’s Data Center Alley for $1 billion.The campuses will span 2.1 million square feet across two sites in Ashburn and Arcola. The first project will include a portion of the former AOL headquarters on Pacific Boulevard in Ashburn. The development will feature four built-to-suit data centers delivering 300 …

January 13, 2022Data Centers, Development, Southeast, Top Stories, Virginia

JLL Arranges $389.2M Refinancing of One Wilshire Data Center in Downtown Los Angeles

LOS ANGELES — JLL has arranged the $389.2 million refinancing of One Wilshire, a multi-tenant data center located at 624 S. Grand Ave. in downtown Los Angeles. The borrower is GI Partners, an alternative investment firm based in San Francisco.The 30-story, 661,553-square-foot data center features five separate utility power risers and 13 onsite generators with fuel storage for 24 hours of operation, along with separate and redundant data risers. The property also features office space, a …

January 11, 2022California, Data Centers, Loans, Office, Top Stories, Western

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 …