CIM + fifteenfortyseven Acquire Second Chicago Data Center
CHICAGO, IL – CIM Group and fifteenfortyseven Critical Systems Realty have jointly acquired an 66,000-square-foot data center from Digital Capital Partners, LLC. The facility is located at 725 S. Wells St, right in the heart of Chicago’s business district, atop 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. The partnership has also purchased data center properties in San Francisco, Toronto, and Cheyenne, Wyoming.
“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, CEO of 1547. “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,” wrote 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,” adds Bob Heiderscheidt, Managing Partner of DCP and CEO of MDI Access.
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 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. 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 fifteenfortyseven Critical Systems Realty, LLC: fifteenfortyseven Critical Systems Realty is a leading developer and operator of custom-designed data centers with over 700,000 square feet of data center space in Orangeburg, NY, Chicago, IL, Cheyenne, WY, San Francisco, CA, Kapolei, HI and Toronto, ON. Central to the firm’s strategy is our ability to uncover the true intrinsic value of properties and opportunistically develop world-class data center facilities. Their focus is providing tenants with strategic, customized mission critical solutions from concept through completion.