CIM Group and fifteenfortyseven Critical Systems Realty (“1547”) have announced the acquisition of an operating data center located at 725 S Wells in the heart of Chicago´s business district, the companies said.
The 66,000-square-foot facility was purchased from Digital Capital Partners, LLC (“DCP”), a Chicago-based wholesale carrier-neutral data center provider.
Located in a fiber-rich, Tier 1 data center market, the newly acquired facility further expands the partnership´s data center portfolio with 5 MW of total in-place capacity. 725 S Wells is positioned atop of the Chicago “Fiber Ring,” providing tenants with access to more than 15 different fiber carriers and robust connectivity to 350 Cermak Road, Chicago´s largest and most interconnected data center.
This acquisition follows the July 2018 acquisition of the 230,000-square-foot Midway Technology Centre on Chicago´s South Side. Chicago serves as one of the top data center markets in the United States, functioning as a major hub for content delivery services due to its central location. With relatively low power costs, readily available access to trans-continental fiber networks, an increasingly large cloud ecosystem, favorable business climate, access to international financial exchanges, and low risk for natural disaster, the region will provide 725 S Wells´ and Midway Technology Centre´s customers with an advantageous location to host critical data and infrastructure.
In addition to the acquisition of the Midway Technology Centre project, the CIM and 1547 partnership has also purchased data center properties in San Francisco, Toronto, and Cheyenne, Wyoming.
CIM Group´s expanding portfolio of diverse infrastructure assets includes renewable energy, water, transportation, waste management and communications infrastructure that supports urban communities in North America.
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than USD 56 billion of projects in communities across the Americas on behalf of its own account and for its partners and co-investors. CIM´s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and asset management experience in urban real assets, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.
fifteenfortyseven Critical Systems Realty is a developer and operator of custom-designed data centers with over 700,000 SF of data center space in Orangeburg, NY, Chicago, IL, Cheyenne, WY, San Francisco, CA, Kapolei, HI and Toronto, ON. For more information, visit www.1547realty.com.