CIM + 1547 Critical Systems Realty Acquire Chicago Data Center
CHICAGO, IL — CIM Group and fifteenfortyseven Critical Systems Realty (“1547”) today announced the acquisition of a 66,000 square foot data center owned by Digital Capital Partners, located at 725 S. Wells, in the heart of Chicago’s business district. Digital Capital Partners is a Chicago-based wholesale carrier-neutral data center provider.
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.
“This established facility adds to our growing portfolio of data center properties that we believe will serve both existing technology and enterprise tenants as well as new customers,” said J. Todd Raymond, Chief Executive Officer of 1547 and frequent contributor to CapRE’s International Data Center Series in the official press release. “With this new facility we will have the ability to provide customers of both of our Chicago facilities with access to a dense network of fiber providers and trans-continental connectivity to support their evolving business needs.”
“We’re very proud of the project we built from scratch, and are pleased to see the asset in the hands of the CIM/1547 partnership,” added Christopher Jensen, Partner of DCP and Managing Partner of Anderson Pacific Corporation.
“DCP is delivering a first-class facility with abundant fiber connectivity and room for expansion,” shared Bob Heiderscheidt, Managing Partner of DCP and CEO of MDI Access.
CIM and 1547 have also jointly 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.
ABOUT CIM GROUP: CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $56 Billion USD 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.
About fifteenfortyseven Critical Systems Realty, LLC: fifteenfortyseven Critical Systems Realty (“1547”) is a leading 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. 1547 was formed in 2011 by a group of experienced executives from the financial and data center industries to leverage their combined expertise in producing market-leading data center developments.