After 16 years of serving data center clients at some of the nation’s largest brokerages, we launched North American Data Centers in 2014 to help our clients buy, sell, lease and renew data centers. A lot has changed since our first data center transaction in 1998 helping Frontier Communications anchor 350 East Cermak in Chicago, creating the largest multi-tenant data center in the world. After the 2001 telco crash data centers have gone from albatrosses of real estate to the most stable asset class and darlings of the REIT sector in 2020. Companies that had to own their data centers or at least have 15 year leases have turned to sale-leaseback as they exit and pursue a hybrid cloud strategy. NFL cities so prominent in the late 90s have taken a back seat to “Edge” markets the last several years. As North American Data Centers celebrates its 6th anniversary, we are excited to thank our clients and reflect upon these recent successes here.
- Sold — 17 data center properties totaling more than 2.5MM square feet
- Completed — 26 MW of Multi-Tenant Data Center (MTDC) renewals and new leases in 17 different markets
- Structured — More than $200 million of debt transactions
- Completed — 22 Edge Data Centers
- Negotiated — In excess of 500,000 sf of power base building lease renewals
- Completed — Land acquisitions in 3 major markets for Colocation or MTDC developers
- In process/recently completed — Over 700,000 sf of sale/leaseback transactions
Jim Kerrigan was named Recipient of Society Industrial Office Realtors (SIOR) for Largest Dollar Volume Transaction AND Top Investment Transaction During 2016 and 2019.