CIM Group and fifteenfortyseven acquires 340 Progress Circle

11 April 2018 | Natalie Bannerman


CIM Group and fifteenfortyseven Critical Systems Realty (1547) have acquired 340 Progress Circle in Cheyenne, Wyoming.

CIM Group, the owner operator of physical assets, and fifteenfortyseven Critical Systems Realty, a developer of custom-designed data centres are building on a existing partnership between the two and adds to CIM Group’s growing portfolio of diverse, infrastructure investments.

340 Progress Circle is a 42,000-square-foot build-to-suit single-tenant data centre was built for Green House Data in 2015. The facility currently delivers 2 MW of critical IT load capacity that will soon be expanded to 3 MW over the next four months to meet the demand for disaster recovery, cloud, colocation and related managed IT services.

J Todd Raymond 220x220“The data centre in Cheyenne combines high-quality infrastructure with low-cost power and high-capacity fibre, and continues the partnership’s goal of acquiring and developing premier data centre assets in or adjacent to population centres to serve the growing data needs of businesses,” said J Todd Raymond, CEO of 1547.

Cheyenne is a popular data centre location because of its high-bandwidth fibre network, tax incentives, low-cost power, and low occurrence of natural disasters. In particular the property has access to four diverse fibre paths on a 100Gbps network offering high speed connectivity to Denver. To date the Cheyenne area is home to a number of data centres, including Microsoft, the National Weather Service’s computing centre, and Echostar/Dish’s network and data hub.

The news marks the third data centre that the CIM Group and 1547 have acquired. Most recently the two company’s acquired an operational data centre in Markham, Ontario only 20 miles outside of Toronto, Canada. Prior to this in the summer of 2017 the two purchased 400 Paul Avenue in San Francisco, a 7.3 acre property planned for a 240,000-square-foot data centre campus in the San Francisco Bay Area. Two of the existing buildings on the site will act as an office which will support and secure storage space for the development of an 187,000-square-foot, data centre with 24 MW of power capacity. Construction of the campus has already begun.