CIM, fifteenfortyseven Acquire Data Center in Orangeburg, NY
- Jan 28, 2019
The ongoing partnership of CIM Group and fifteenfortyseven Critical System Realty has acquired a 232,000-square-foot data center in Orangeburg, N.Y. An affiliate of fifteenfortyseven sold the asset for an undisclosed price. This acquisition marks the partnership’s sixth acquisition and its first incursion in the northeastern U.S. market.
The data center is located at 1 Ramland Road, on a 23-acre lot. The facility is partially occupied, and currently provides 7 megawatts of critical IT power across 28,000 square feet of raised floor space, at more than 20 kW cabinet density. The data center is provisioned for up to 24 megawatts with 2N distribution. The additional 17 megawatts can be developed either into a turn-key or a powered shell space which would include approximately 60,000 square feet of office space. The site also received entitlements for the construction of a private, 50-megawatt power substation, as well as permitting for a 230,000-square-foot expansion of the building.
“With the partnership’s combined resources and the increasing market demand for flexible data center and business continuity/disaster recovery space, this facility is poised to grow substantially in the near term and positions the portfolio to serve tenants in key markets in the Northeast, Midwest and West U.S. coasts,” said Todd Raymond, CEO of fifteenfortyseven, in a prepared statement.
Image courtesy of fifteenfortyseven Critial Systems Realty