Landmark Dividend pays $122M for Phoenix data center campus
Landmark Dividend just made a big move into the turnkey data center space.
Landmark Dividend LLC, an industry leader in the acquisition and development of real property interests and digital infrastructure, announces today that it has acquired a data center campus located in Phoenix, Arizona in March 2020. The 184,000-square-foot, 16+ MW enterprise data center campus signifies the company’s expansion into offering a move-in ready, turnkey data center platform. The Phoenix acquisition is the 16th data center asset acquired by the digital infrastructure division in the last 18 months, and it is currently more than 50 percent occupied by a long-term, major technology-based financial services company.
The terms of the transaction were not disclosed, but according to Commercial Property Executive, the sale price was $122 million and the seller was PayPal Inc. PayPal retains a lease on a portion of the property and up to 6.77 MW of power for up to eight years.
The newly acquired data center campus consists of three data center buildings, along with an office area designed to Tier IV standards, and currently has an immediate lease opportunity of up to 9 MW of existing data center capacity with PUEs as low as 1.15. Landmark’s expanded data center infrastructure offerings are strengthened through an exclusive partnership with BCS, a Dallas-based critical facilities operations company. BCS’ capabilities include facility management, security, janitorial and IT services solutions that feature best-in-class service-level guarantees. Landmark has engaged the JLL Data Center Solutions team in Phoenix as the exclusive leasing manager of the data center campus.
“We’re excited to continue the expansion of our digital infrastructure platform, building on the team’s impressive history of data center investment and acquisition activity,” comments Ryan Sullivan, Senior Vice President of Landmark’s Digital Infrastructure division. “Our new Phoenix data center campus, with its significant capabilities, represents a new era for our team, and we look forward to supporting turnkey data center requirements in a market where data demands continue to expand rapidly. As an experienced data center and real estate company, we understand the sophisticated needs of buyers in the era of converged infrastructure, and we’re now better positioned to seamlessly meet those needs.”
“This expansion into the turnkey data center sphere means that ready-to-go companies can immediately gain access to a move-in-ready facility that is tier-rated for high-density applications,” continues Sullivan. “The Landmark and BCS critical facility operations partnership has shown it can save enterprise data center users 15% to 25% in operating costs annually, and these opportunities and advantages continue to be backed by Landmark’s industry-leading platform and management team.”
Landmark’s new 16 MW data center campus has up to 9 MW of currently available space and power. The data center campus buildings were constructed between 2010 and 2014 with roof capacity loads of up to 1.4 M pounds. The facility is fortified with a storage warehouse and is designed for Tier IV compliance, offering full redundancy across its entire infrastructure while providing access to over 10 carrier networks onsite.