DartPoints to Acquire Immedion
- Mar 17, 2021
DartPoints has signed a definitive agreement to purchase Immedion and its entire portfolio of eight data centers.
The transaction is expected to close in the second quarter of 2021 and will more than double DartPoints’ existing footprint. Bank Street served as financial advisor to Immedion.
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The properties are located across seven metropolitan areas: Asheville, N.C.; Charleston, S.C.; Columbia, S.C.; Greenville, S.C.; Spartanburg, S.C.; Columbus, Ind.; and Cincinnati. The newly added raised floor space comprises roughly 90,000 square feet, with extra room for future expansions available in some of the data centers. All facilities are carrier-neutral, allowing tenants connectivity with major fiber and Internet access providers.
Immedion Columbus is the largest of these properties by size, totaling 86,400 square feet, of which 34,000 square feet is raised floor space. The data center is located at 2425 Technology Blvd. in Columbus, Ind., near State Road 64 and Interstate 65. It is a purpose-built, carrier-neutral data center that offers private data suites with dedicated HVAC, 24/7 customer access and is wind rated to withstand an EF5 tornado. Immedion’s headquarters, an enterprise data center located in the Global Business Park in Greenville, S.C., was also included in the transaction.
The deal is part of an ongoing expansion strategy by DartPoints, focused on interconnection in secondary and tertiary markets, a move that highlights the growing trend of edge deployments in secondary locations. The company received a substantial investment package from Astra Capital Management in May last year to fund its growth.
“The DartPoints model is about location and catalyzing local digital ecosystems around neutral edge data centers and interconnection points. Our deployments don’t require massive grid upgrades, but rather folding into the existing power envelope in the communities in which we deploy,” Scott Willis, CEO of DartPoints, told Commercial Property Executive. “The capabilities we support in underserved markets can further be put to use to address local and regional sustainability initiatives, smart cities and agriculture, and the climate benefits that come with high-performance digital ecosystems.”
In August 2020, DartPoints opened its first data center in North Liberty, Iowa. Later in October, the company acquired Metro Data Centers, another full-service provider of interconnected services located in Dublin, Ohio. DartPoints operates in multiple markets, including the Dallas/Fort Worth area, which is currently the second-largest data center market in the U.S. by available inventory, surpassed only by Northern Virginia.
“The Immedion acquisition furthers the DartPoints strategy revealed in 2020. The strategy is to build and acquire edge interconnection and colocation facilities throughout the Southwest, Southeast, Upper Midwest and Mid-Atlantic regions. It’s a strategy focused on delivering lower cost, high-performance solutions in tier 2-4 markets,” Scott Willis further added for CPE.