Fwd: St. Louis Telecom Data Center FOR SALE
Ben West
From: "Executive Director" <executive...@fispa.org>
To: "FISPA Members List" <mem...@fispa.org>
Cc: br...@blockhawley.com
Sent: Wednesday, June 21, 2017 10:05:52 AM
Subject: [FISPA Members] St. Louis Telecom Data Center FOR SALE
Perhaps a member or someone a member knows would be interested in this data center.
----------begin description----------
Previous tenant occupying the facility (Level 3) vacated about a month ago due to consolidations from being acquired by CenturyLink.
Level 3 wanted to exit their lease and in doing so had to agree to forfeit all of the data facility infrastructure — so basically my client was left with a 3.5MW redundant turn key data facility at no cost. It has everything from cooling, fire suppression, power, backup generators and several fiber providers on site, etc.
Global Crossing and Level 3 spent more than $24mil dollars in building out the facility. Since Level 3 has vacated, several parties have flown in and have made offers to buy the infrastructure to expand their data centers in other areas. These offers will expire towards the end of the month, so we have to make a decision on what we will do soon. We had a consultant walk through and they advised us not to sell the equipment and to find a local buyer, because the installation of the equipment alone is "worth millions of dollars".
The predicament we are currently in, is that we have to make a decision on accepting an offer for the infrastructure within the next 3 weeks. Our net take away after we would sell the infrastructure and the site separately is only $3.5 mil.. We were told that someone local would easily pay that and more for the site, so I wanted to run it past you to to see if you could help us find a buyer/user. At this time, my client would be more interested in selling it, but could also be open for a lease.
The building is 53,500 sq ft, with half of it warehouse shell leased (income generating) to an Ameren UE contractor, and the other half built-out as the data facility. We have comparables of data facilities like this in other secondary markets that suggest the building is worth more than $7mil+, but as you may know this type of property requires a special user, as opposed to other forms of real estate.
BUZZ Ries
ASSOCIATE
INDUSTRIAL PROPERTIES
16253 Swingley Ridge Road, Suite 150
Chesterfield, MO 63017
_______________________________________________
Members mailing list
Mem...@fispa.org
http://lists.fispa.org/mailman/listinfo/members
--
westb...@gmail.com
