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 …
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 …
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 …
IRVINE, CALIF. — A fund sponsored by CBRE Global Investors has purchased Irvine Crossing, a mixed-use logistics property in Irvine. Terms of the transaction were not released.The 395,673-square-foot property features a 193,173-square-foot data center with 10 megawatts of critical power located at 17836 Gillette Ave. and a 202,500-square-foot logistics warehouse located at 17871 Von Karman Ave. One of the largest data center operators in the world occupies the data center, while a large …
NEW YORK CITY AND OVERLAND PARK, KAN. — Blackstone (NYSE: BX) has entered into a definitive acquisition agreement with QTS Realty Trust (NYSE: QTS), a data center real estate investment trust, in an all-cash transaction valued at $10 billion. Upon completion of the transaction, the parties expect that QTS will continue to be led by its senior management team and maintain its corporate headquarters in Overland Park.QTS has a diverse footprint spanning more than 7 million square feet of …
LOUDOUN AND PRINCE WILLIAM COUNTY, VA. — Yondr Group, in partnership with JK Land Holdings LLC, have acquired 270 acres of land in Loudoun and Prince William counties for the development of data centers. The price and seller were not disclosed.The data centers’ new sites are close to Northern Virginia's major fiber path and power transmission lines, and the sites are expected to support the delivery of 500 megawatts of critical IT capacity. Yondr aims to have its first capacity ready …
ROUND ROCK, TEXAS — Switch Inc. (NYSE: SWCH), a Las Vegas-based data center developer and operator, has purchased land in the northern Austin suburb of Round Rock from Dell Technologies for the development of a 1.5 million-square-foot campus. The site is adjacent to Dell’s global headquarters campus. The property will be Switch Inc.’s fifth data center campus in Texas and will be known as The Rock. Switch Inc., which recently acquired Data Foundry, a provider of colocation services in …
CHESTERFIELD, VA. — Digital Fortress, a multi-tenant and wholesale data center provider, has opened a 250,000-square-foot data center campus in Chesterfield, about 16 miles south of Richmond.The facility, known as Digital Fortress Richmond, features a raised floor design for its data center space that has 4.1 megawatts of IT load, as well as an additional 200,000 square feet of shell core expansion space supporting up to 25 megawatts of power. The property also features office space that …
Shifting behaviors and expectations for consumers, manufacturers and distributors have made industrial space central to the commercial real estate landscape. “This is an asset class that for 25 years of my 39 years in the commercial real estate business was a boring, middle-of-the-road class. But this steady investment has just exploded,” says Jay Olshonsky, president and CEO of NAI Global.Much of the most recent change has been driven by the particulars of the COVID-19 pandemic. …
LEESBURG, VA. — TA Realty LLC, a provider of real estate investment management services to domestic and international institutional investors, plans to develop a new $1.8 billion secure data center campus in Leesburg. The Loudoun County project will be the first data center development for the Boston-based firm.TA Realty’s new data center campus will be situated on the east side of Sycolin Road with Cochran Mill Road to the north and Energy Park Drive to the south. With the initial …
