February 27, 2019
Silverpeak and Legacy Investing, LLC, in partnership with funds managed by Oaktree Capital Management, L.P., acquired a portfolio of office, industrial and data center campuses in Cleveland and Cincinnati in a partial office space sale-leaseback transaction with PNC Bank, N.A. The transaction introduces financial grade, turn-key, Tier III data centers to the two markets, which historically have not been available for lease.
Totaling 70,000 square feet of leasable raised floor space and 6.7MW of immediately-available N + 1 power capacity, the data centers are designed to handle high performance computing and feature 42-inch raised floors, liquid- cooled cabinets, and access to all major fiber providers.
Legacy’s Jay Rappaport (pictured) notes the facilities “were purpose built by a large financial institution as their primary data centers with over $60 million invested in each facility. These are ideal facilities to support cloud and managed service providers, as well as financial, government, healthcare and life science companies.”
For comments, questions or concerns, please contact Dennis Kaiser