CIM Group Acquires Data Center In Orangeburg, New York
Fifteenfortyseven Critical Systems Realty maintains ownership interest alongside CIM.
CIM Group and fifteenfortyseven Critical Systems Realty (“1547”) have announced the acquisition of 1 Ramland Road in Orangeburg, New York, an existing 232,000-sq-ft data center, previously owned by an affiliate of 1547. The partially occupied facility currently provides 7MW to tenants across 28,000 sq ft of turn-key data center space and has capacity onsite to deliver an additional 17 MW of power capacity across 132,000 sq ft of space to be developed as turn-key or powered shell data center space and approximately 60,000 sq ft of multi-tenant and private suite business-continuity / disaster-recovery office space. The data center site is also entitled for a private, 50 MW substation and a 230,000 sq ft expansion. fifteenfortyseven Critical Systems Realty (“1547”) acquired and redeveloped the property in 2012 from its previous use as office and light industrial/warehouse.
This transaction is the sixth for the CIM-1547 partnership and the second in less than a month. “With the partnership’s combined resources and the increasing market demand for flexible data center and BC/DR space, this facility is poised to grow substantially in the near term and positions the portfolio to serve tenants in key markets in the Northeast U.S. / Midwest / West Coast,” stated J. Todd Raymond, CEO of 1547.