August 11, 2017 Comments (0) Views: 405 Bay Area, California News

CIM, Data Center Company Acquire Portola Development Site

Los Angeles-based CIM Group, in partnership with fifteenfortyseven Critical Systems Realty (1547), acquired 400 Paul Avenue, a 7.3-acre property located at one of the nation’s most important data center hubs in San Francisco’s Portola neighborhood. The site is fully-entitled for the development of a 187,000-square-foot data center with 24MW of power capacity.

The property is at the hub of more than a dozen fiber networks serviced by multiple international carriers, and adjacent to one of the most critical interconnection data centers in the U.S. The partnership is undertaking pre-development activities to immediately advance the construction of the purpose-built data center that will address tenants’ growing connectivity demands.

The acquisition also includes two 1930’s-era buildings totaling 54,225 square feet that will be improved to serve as office and support space for data center tenants. 1547 is a New Jersey-based developer and operator of custom-designed data centers.

Read more at Business Wire

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