Digital Realty Acquires Four Facilities
November 3, 2006 — (WEB HOST INDUSTRY REVIEW) — Data centers and Internet gateways owner and manager Digital Realty Trust (digitalrealtytrust.com) announced on Friday it has acquired the primary Internet gateway for the Pacific Northwest market located in downtown Seattle, Washington and fee simple interests in data center facilities located in Miami, Florida, Waltham, Massachusetts and Tempe, Arizona. The total purchase price paid for these four acquisitions was approximately $79.1 million.
“The addition to our portfolio of the Seattle Internet gateway facility, locally known as the Westin Building, represents a very strategic initial acquisition for us in this tier one market,” says Michael F. Foust, CEO of Digital Realty Trust. “It not only expands our national footprint into the Pacific Northwest, it also adds to our existing portfolio of mission critical Internet gateway facilities in Chicago, Dallas, San Francisco, Los Angeles, Miami, Phoenix and Charlotte.”
The downtown Seattle acquisition, located at 2001 Sixth Avenue property, serves as the primary hub for Internet traffic in the Pacific Northwest and is the premier facility for corporate data center applications in the Seattle market. The 34-story tower consists of 389,000 square feet and is 90 percent leased. The second property, located at 2300 NW 89th Place in Miami, Florida, was acquired in sale leaseback transaction, which included a new 10-year lease with Peer 1 Network Enterprises for 100 percent of the property.
The third acquisition, located at 600 Winter Street in Waltham, Massachusetts, is a 30,400 square foot single-story building that was redeveloped as data center in 1998. The property is 100 percent leased to Savvis. The fourth acquisition, located at 2055 East Technology Circle in Tempe, Arizona’s ASU Research Park, is a vacant warehouse facility totaling approximately 55,000 square feet of shell space, which can accommodate approximately 30,000 square feet of raised floor.
