RXR Trades NJ Office, Data Center
- Feb 22, 2018
GI Partners has purchased a 130,009-square-foot office and data center building in Nutley, N.J. from RXR Realty. The property contains 65,009 square feet of office and 65,000 square feet of data center space. The secure asset’s single tenant, BT Americas, utilizes the structure as a mission critical facility for providing disaster recovery and cloud services.
Located at 492 River Road, the three-story facility is situated on 17.4 acres of land half a mile west of the intersection of New Jersey routes 3 and 21. Constructed as a warehouse in 1972, the structure was converted to its current use in 2000, according to Yardi Matrix. RXR carried out additional upgrades in 2009. The building features redundant power, two meet-me rooms with access to 13 telecommunications providers, as well as an expandable substation located on-site.
“We are very pleased to form a long-term relationship with BT,” said Michael Wong, director & co-head of acquisitions of GI, in a prepared statement. “BT’s recent long-term lease extension and its focus on continuing and expanding its service offerings to a wide range of clients in its Nutley location make it a very attractive addition to our technology-advantaged real estate portfolio.”
Image courtesy of Yardi Matrix