CIM Group sells portfolio of four US data centres
CIM Group has announced it has sold four of its data centres in New York, Illinois, and Wyoming to a joint venture between Harrison Street Real Estate Capital, and fifteenfortyseven Critical Systems Realty
Located in Chicago, Illinois; Orangeburg, New York; and Cheyenne, Wyoming, the portfolio assets make up more than 560,000 square feet of well-located data centre space offering abundant fibre connectivity in leading data centre markets in the U.S.
“Under CIM Group’s ownership, this portfolio has become stabilised and has substantially increased in value. These assets benefited from CIM’s sourcing, in-house operational expertise, and the team’s focused management and ability to assess and implement property modifications and additions,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
1547 was CIM’s former joint venture partner in the portfolio. CIM continues to own and operate data centre properties in San Francisco, California and Toronto, Ontario in partnership with 1547. In addition, in 2020 CIM Group made a major commitment to Novva to share in its development of a 1.5-million-square-foot data centre campus in Utah and other campuses.
725 S. Wells St. is a 60,000-square-foot, 5 MW data centre in Chicago’s business district that is positioned atop the city’s “Fiber Ring,” providing tenants access to more than 15 different fibre carriers. The nine-story facility features data centre and office space.
Midway Technology Centre at 40 E. Garfield Blvd. is a 230,000-square-foot, 26 MW data centre campus in a fibre-rich area adjacent to multiple fibre-optic paths for metro Chicago. Located in the Washington Park neighbourhood just five miles from The Loop, the Centre features data centre and office space on 4.69 acres.
Both 725 S. Wells St. and Midway Technology Centre provide connectivity into 350 E. Cermak, which is among the most interconnected data centres in the central U.S.
Orangeburg, New York
1 Ramland Rd. is a 232,000-square-foot, 24 MW data centre located only 18 miles from Manhattan that provides competitive low latency connectivity to New York and New Jersey markets. The property features data centre and office space on a 23-acre site.
340 Progress Circle in Cheyenne is a 38,000-square-foot, 5 MW single-tenant data centre with access to four diverse fibre paths on a 100 Gbps network offering high-speed connectivity to Denver and is located approximately 90 miles north of the city. The one-story facility features data centre and office space on a 20-acre site.
Data centres are a significant part of CIM Group’s infrastructure portfolio and the company is actively seeking new data centre acquisitions, particularly value-add opportunities.
In addition to communications infrastructure, such as data centres, CIM Group’s growing portfolio of diverse infrastructure assets includes renewable energy, digital infrastructure, transportation, and water and waste management that support metropolitan communities in North America. For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.