Sabey Data Center Properties Acquires 375 Pearl Street in Manhattan
NEW YORK--(BUSINESS WIRE)-- Sabey Data Center Properties announced today that it has acquired the principal condominium interest in 375 Pearl Street in lower Manhattan for $120 million. Sabey, the largest privately-owned multi-tenant data center owner and developer on the West Coast, will reposition the property as Intergate.Manhattan, a one million square foot technology-focused commercial tower. Sabey will outfit the property with all new core infrastructure while expanding its connectivity with both path and carrier diversity.
When it opens in early 2012, Intergate.Manhattan will be designed to be the city’s most energy efficient, robust and secure mission critical building. With 18 megawatts of power in-place, Sabey plans to increase its power capacity to 40 megawatts of available, redundant power.
John Sabey, President, Sabey Data Center Properties, said, “Sitting at a confluence of the world’s transatlantic cable and fiber routes, 375 Pearl Street is a crucial presence as our Sabey Data Center network expands. We are delighted to provide an essential service for both existing requirements and the growth of new scientific, academic and medical research centers in a resurgent lower Manhattan and to be part of its ascendance as a world capital for data-based enterprises of all types.”
Sabey has developed significant relations with data center enterprises in the financial services, telco carrier, life sciences, co-location, managed hosting and cloud service verticals. Its tenants include Microsoft Corporation, JP Morgan Chase, Savvis, Internap, VMware and T-Mobile. It is anticipated that many of Sabey’s existing customers will be attracted to Intergate.Manhattan.
Managed and operated by Sabey, Intergate.Manhattan will offer fully turn-key technology solutions tailored to users with varying space, power, and connectivity challenges, as well as data center ready shell space for tenants that choose to design, build, and operate their own facility within the building envelope.
Sabey has established a strategic partnership with the National Real Estate Advisors (NREA) and mutually beneficial relationships with the nation’s leading labor organizations in the electrical and communications sectors. Sabey presently owns more than three million square feet of data center space.
Youngwoo & Associates has an interest in the property and is a local partner.
CONTACT:
Linden Alschuler & Kaplan, Inc. Public Relations
Lloyd Kaplan lkaplan@lakpr.com
Richard Edmonds redmonds@lakpr.com
212-575-4545
KEYWORDS: United States North America New York
INDUSTRY KEYWORDS: Technology Data Management Networks Telecommunications Security Construction & Property Commercial Building & Real Estate
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