The Future of Manhattan Data Centers Part 2 – The Next 111 Eighth Avenue?

In my last blog post I mentioned that new data center users and expanding tenants will likely not have any options in 111 Eighth Avenue.  Google has indicated that it plans to expand in the building and has taken all available space off the market.  Meanwhile,quality data center space in Manhattan is in high demand.  The most recent sizable data center spaces that have come to the market in Manhattan leased at very high rents after bidding wars -the former Lehman Brothers space at 85 Tenth Avenue and Digital Realty Trust’s space at 111 Eighth Avenue. Most recently,XO has leased a raw floor at 32 Avenue . . . →Read More:The Future of Manhattan Data Centers Part 2 – The Next 111 Eighth Avenue?

Data Center Activity Heats Up In Manhattan

Spotlight New York:

  • Since Google’s acquisition of 111 Eighth Ave.,all available space in the building has been taken off the market. The most recent data center transaction in the building was Digital Realty Trust’s sublease of 53,000 square-feet to Telx shortly before the building’s sale.
  • Sabey and local developer Young Woo are under contract to purchase 375 Pearl St.,a 1-million-square-foot former Verizon switching building,for an estimated $100 per square-foot from M&T Bank. The building is well-suited for data center use,with very heavy floor loads,high ceiling heights,limited windows,and abundant shaft space.  Verizon will maintain a three-floor condo interest in the building.
  • . . . →Read More:Data Center Activity Heats Up In Manhattan

High Frequency Trading and the NYSE’s Data Center in Mahwah,NJ

In the spirit of David’s post,I thought I would add a little more color on high frequency trading and the NYSE.  Since it seems that any reputable reporter discloses all possible conflicts when writing about a topic (not that I’m a reporter),I should note that Grubb &Ellis manages the NYSE’s new data center in Mahwah,NJ.

Here are some facts on that facility that are not well known (but I should note that they’re not confidential):

Trading began in Mahwah in August,effectively moving the hub of the financial markets from New York City,to New Jersey.   The total facility which was built-to-suit for the NYSE . . . →Read More:High Frequency Trading and the NYSE’s Data Center in Mahwah,NJ