1547 acquires four new facilities with Harrison St


44m | Melanie Mingas

quinzefortyseven Critical Systems Realty – aka 1547 – has acquired four new facilities for an undisclosed amount from one of its joint venture partners, CIM Group.

Located in Chicago, Illinois, Orangeburg, New York and Cheyenne, Wyoming, the portfolio of facilities includes more than 560,000 square feet, with room for expansion. All four facilities were previously owned by CIM Group and 1547 and the two still have facilities in San Francisco and Toronto together.

The newly acquired assets will be managed by 1547 and co-owned by its partner JV Harrison Street.

1547 CEO and General Manager J. Todd Raymond said the transaction means 1547 is “on the verge of launching an aggressive development plan” with new capacity slated to go live in New York and Chicago in the United States. early 2022.

He added: “We are delighted to expand our partnership with Harrison Street with these four assets and to continue to have the opportunity to manage and develop them throughout their next stage of growth.

The transaction follows Harrison Street and 1547’s acquisitions of the historic Wells Building, a transportation hotel and data center in Milwaukee, Wisconsin, and the Pittock Block building, a transportation hotel, colocation data center and a office building in downtown Portland, Oregon.

“This transaction is in line with Harrison Street’s digital strategy of acquiring high quality, critical assets in attractive markets with high barriers to entry,” said Michael Hochanadel, MD and head of digital real estate at Harrison Street.

“We are delighted to expand our portfolio with 1547, a leading data center operator, which now includes six leading assets in five US markets. Chicago and New York are strategic markets with high demand for cloud, content, healthcare and financial services given the proximity to densely populated centers. For users looking for deployments in these markets, these assets offer strategic connectivity options based on their dense fiber networks. Cheyenne, Wyoming, is a growing data center market that benefits from low energy costs and strong economic incentives, ”added Hochanadel.

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