Data Center: Data center provider signs lease for 81,000 square feet in Chicago suburb
by Midwest Real Estate News Reports
A national data center provider has signed a long-term lease for an 81,600-square-foot flex building to be located in the Chicago suburb of Mt. Prospect.
Ned Franke, Alex Smith and Jordan Rovito of Cushman & Wakefield completed the transaction on behalf of the building’s owner, First Industrial Realty Trust, Inc.
The lessee, CoreLink Data Centers, LLC, operates a network of data co-location facilities in Phoenix, Seattle and Las Vegas. The Mt. Prospect facility will be the company’s first in the Chicago area.
“Data centers are increasingly becoming a vital component of the industrial real estate landscape in suburban Chicago,” said Franke, a Cushman & Wakefield senior director who has worked on several data center negotiations from both the tenant and landlord sides. “We are very pleased that we could leverage our expertise in this area on behalf of our client, First Industrial.”
Said Keith Stauber, senior regional director for First Industrial’s Chicago region: “We’re happy that our location met CoreLink’s unique requirements for its growing data center business. This facility, their largest to date, is located in a business campus setting and will provide them with access to a talented technical workforce. We thank Geoff Hampson, CEO of CoreLink, and his team for the opportunity to meet their real estate needs. Thanks to cooperating brokers Chad Freese and David Saad of CB Richard Ellis for their efforts in seeing this transaction to a successful conclusion.”
CoreLink will modify the existing infrastructure to bring it up to their typical 2N configuration with roughly 200 watts per square foot of usable UPS power. The design is flexible so that customers with higher density requirements can also be accommodated. In all, CoreLink has secured over 16 MW of power for the facility. Conditioning of the first phase is expected to be complete by this summer.
As per the typical requirements for data centers, the building is also located outside of the flood plain and all flight paths of nearby airports.
“Our move into the Midwest comes at a good time, when demand for co-location remains very strong and supply is very limited,” said CoreLink founder and CEO Geoff Hampson. “This is particularly true for the Chicago market, where we are committed to making a large investment into this new facility, which will be our largest yet.”
