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09 January 2017
| James Pearce
Data centre provider CentralColo has bought a large data centre in north Virginia as part of a joint-venture with real estate firm Legacy Investing.
The deal, which was first announced last month, will see
CentralColo buy the site from real estate investor The Meridian
Group, according to Virginia Business.
The Tysons Technology Center is located on a 280,000-square
foot campus in Vienna, Virginia, and already houses tenants
including defence technology company Leidos and the General
Services Administration. It includes a 200,000 square foot
office and data centre building, plus a separate 80,000 square
The acquisition is part of Californian firm
CentralColo’s partnership with Legacy Investing,
and has cost around $96 million, according to reports.
"This transaction fit our investment strategy of acquiring
underperforming assets and unlocking additional value," Dave
Gelfond, Meridian’s senior vice president said.
"It was a repositioning opportunity where we converted
substandard office space to data space and increased leasing
from 63 percent at acquisition to 91 percent at sale."
It comes just months after the Silicon Valley firm
appointed Ken Parent as CEO, after securing a "significant
investment" from Safanad that it said would fun expansion
Tyson's Technology Centre,