Miller-Valentine Wins Two Portfolio Contracts from Iron Mountain
By Barbra Murray, Contributing Editor
Miller-Valentine Group has added two major outsourcing contracts to its plate. The commercial real estate services firm was recently tapped by Iron Mountain Inc. to serve as general contractor for the information management service provider’s portfolio of facilities in the Mid-South and Ohio Valley regions.
“Iron Mountain bids large volumes of General Contracting work to various companies around the country to maximize our investment in these projects and allow us to maintain our standards for our security and facility operations,” Douglas Berry, Iron Mountain’s director of Construction and Facilities for the Americas, told Commercial Property Executive. “Miller-Valentine is one of several contractors that we have partnered with to achieve this goal.”
There is a lot of ground to cover. Miller-Valentine is charged with managing all non-maintenance related work—tasks ranging from renovations to new construction—for Iron Mountain’s properties in Virginia; North and South Carolina; eastern Georgia; northern Florida; Ohio; Kentucky; Indiana; and Michigan. The total square footage of the group of facilities has not been made available. However, according to an SEC filing, Iron Mountain conducts operations in 746 leased and owned properties totaling 63.7 million square feet across North America, Europe, Latin America and Asia Pacific. The company is the owner of 236 of the facilities.
Iron Mountain has big plans for its property portfolio this year. “We’re planning for capital spending of $220 million including…about $25 million of spending for real estate,” Brian P. McKeon, Iron Mountain executive vice president and CFO, said during the company’s first quarter earnings call in April. The company spent $1 million on real estate during the first three months of 2012, so plenty more activity is on the horizon.
Miller-Valentine is wasting little time in tackling its new responsibilities. The firm has already commenced a building modification project at an Iron Mountain facility in Richmond, Va., and work is also underway at a site in the suburban Richmond town of Sandston, and a property in Charlotte, N.C.
“The regional construction contracts awarded by Iron Mountain are a perfect example of Miller-Valentine’s dedication to understanding our clients’ operations,” said Jon Brockman, senior project manager of Miller-Valentine. “This understanding allows us to match our ownership experience, property management experience, and construction capabilities to the long term real estate needs of growing companies in today’s competitive environment.”
Miller-Valentine and Iron Mountain have worked together in the past. Previous projects include the firm’s up-fitting of a 45,000-square-foot document storage and imaging facility in Greer, S.C., in 2010.