GI Partners acquires 492 River Road in New Jersey
22 February 2018 | Natalie Bannerman
GI Partners, the private investment firm, has acquired 492 River Road in Nutley, New Jersey.
The mission critical facility totals nearly 130,000 square feet and was fully renovated in 2000 and was further updated in 2009. As a result it benefits from robust infrastructure, significant connectivity with access to 13 telecommunications providers in two meet-me-rooms, plus an expandable onsite substation.
BT Americas leases the entire property on a long terms basis offering services which includes disaster recovery, cloud and managed services solutions. In addition, 492 River Road is one of the core BT Radianz Compute locations, where the company hosts and manages platforms for its capital markets customers. These platforms are part of the BT Radianz Cloud, which supports a global community of thousands of financial markets institutions and over 400 service providers.
“We are very pleased to form a long-term relationship with BT,” said Michael Wong, director of GI Partners and co-head of acquisitions for GI’s technology real estate investment programs. “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.”
The purchase adds to GI Partners’ growing portfolio of data centres that it owns and manages. It now stands at a total of 22 properties comprising 5.3 million square feet across 13 different leading data centre markets.
In January, the firm acquired the Ericsson ICT Data Centre in Montreal, Quebec from Ericsson. The building comprises of 215,000 sq ft of turnkey data centre and space and according to the company, can accommodate its growth and expansion.
Last year, GI Partners acquired Seattle-based carrier hotel and data centre facility KOMO Plaza for an estimated $276 million. The two-building campus, situated at 100 and 140 Fourth Avenue North in Seattle, Washington, combines data centre, network neutral interconnections and an office, offering a robust infrastructure across 294,000 sq ft.
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